Sarah Cullen

Head of Real Estate Finance, EMEA
Norton Rose Fulbright LLP

United Kingdom
T:+44 20 7444 3946
United Kingdom
T:+44 20 7444 3946
Sarah Cullen

Sarah Cullen


Related services and key industries


Sarah Cullen is a real estate finance lawyer based in London. She has over 15 years of experience in the sector. She specialises in domestic and cross border senior and mezzanine debt financings, commercial and residential acquisition, investment and development financings, hotel financings, loan portfolio sales and real estate distressed debt restructuring.

Sarah acts for borrowers and lenders and clients include RBS, HSBC, ICBC, Crest Nicholson, Residential Land, Ivanhoé Cambridge, Picton Capital and Sirius Real Estate.  

Professional experience

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  • Solicitor, qualified in England & Wales
  • Advising JV led by Deutsche Finance International and Yoo Capital on the financing for the £296m acquisition of Olympia London Exhibtion Centre
  • Advising a syndicate of banks on the £210m financing for a UK shopping centre fund
  • Advising a syndicate of banks on the complex £170m investment financing of a pan-European fund's portfolio of retail and office properties located in France, Belgium and Italy.
  • Advising HSBC on €165m investment and development facilities for 3 shopping malls in Poland.
  • Advising the borrower in relation to the €65m development financing of an Estonian shopping and entertainment centre.
  • Advising on the £280m investment and development financing of a portfolio of prime residential apartment buildings for a JV between Residential Land and a large Canadian pension fund.
  • Advising RBS on various development and investment financings in the commercial, residential, student, retail and industrial sectors including its financing of £100m commercial landmark 10 Hammersmith Grove.
  • Advising Sirius Real Estate on various acquisition financings and refinacings for portfolios of office and retail properties in Germany.
  • Advising Crest Nicholson (housebuilder) on various finance matters including its £240m refinancing and second lien mortgage portfolio.
  • Advising Picton Capital on various financings for it's UK office, retail and light industrial portfolio.
  • Advising the Hinduja Group and OHL Desarrollos on the £300m acquisition financing provided by the State Bank of India and shareholder funding to acquire and develop the historic Old War Office Building in Whitehall from the Ministry of Defence. Once developed, it is expected to have a value of over £1bn.
  • Advising a syndicate of banks on the £150m development financing for the Ram Brewery Site, Wandsworth for a mixed residential, office and retail development.

Sarah is ranked in Chambers & Partners and sources say she has the "ability to manage many different projects at once," and that she is "pragmatic and thoughtful in understanding what's important to us, going for those points and pushing them."


MIPIM 2023

Publication | March 08, 2023

Real estate finance debt market: The big questions

Webinar | March 08, 2023

Market volatility: What next for real estate finance lenders?

Webinar | December 06, 2022