LG and Dicksons sign off £267m property sale
Legal Week reports
November 01, 2006 at 07:03 PM
2 minute read
Lawrence Graham and Dickson Minto have taken the lead roles on a £267m shopping centre sale in Scotland.
Lawrence Graham advised pension scheme the Universities Superannuation Scheme (USS) on its sale of Edinburgh's Gyle Shopping Centre to Belfast property company William Ewart Properties.
Real estate partner Victoria Younghusband headed up the Lawrence Graham team, which included tax partner Robert Field.
Lawrence Graham, which was instructed by USS in late June, counts the multi-billion pound pension scheme as a regular client for real estate work. It shares the relation-ship with DLA Piper but historically does most of USS'shopping centre work.
The Gyle transaction, which completed at the beginning of October, is part of an ongoing portfolio restructuring by USS to free it up to concentrate on its retail development investments in Cambridge and Leeds. USS paid less than £200m for the Gyle in 2000.
Earlier this year Lawrence Graham advised USS on the sale of Midsummer Place shopping centre in Milton Keynes. The Gyle centre covers 361,679 sq ft and includes retailers such as Marks & Spencer, Morrisons, Next, Gap, River Island and Boots.
Dickson Minto acted for the purchasers on the deal with Edinburgh real estate partner Ewan Sherriff leading.
Glasgow firm Mitchells Roberton also advised USS alongside Lawrence Graham.
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