Beachcroft and SNR Denton lead on new Westfield lettings
Beachcroft and SNR Denton have helped fill the new Westfield Stratford City shopping mall, with the pair advising Westfield on lease agreements for 300 stores inside the centre. Beachcroft's real estate team, led by relationship partner David Esam, completed 50% of the mall's lettings, with SNR Denton advising on the remaining 150 agreements, led by retail occupiers sector group head Chris Denny. The roles take the number of top 50 UK law firms to have picked up advisory mandates for Westfield in relation to the new Stratford centre, which opened last week, to five.
September 21, 2011 at 07:03 PM
2 minute read
Beachcroft and SNR join Ashurst on much-touted retail project
Beachcroft and SNR Denton have helped fill the new Westfield Stratford City shopping mall, with the pair advising Westfield on lease agreements for 300 stores inside the centre.
Beachcroft's real estate team, led by relationship partner David Esam, completed 50% of the mall's lettings, with SNR Denton advising on the remaining 150 agreements, led by retail occupiers sector group head Chris Denny.
The roles take the number of top 50 UK law firms to have picked up advisory mandates for Westfield in relation to the new Stratford centre, which opened last week, to five.
Ashurst took the lead on the project with real estate partner Hugh Lumby at the helm, advising the Australian shopping centre group on planning, development, property and construction matters.
In addition to agreeing lease arrangements with anchor stores including John Lewis and Marks & Spencer, Ashurst advised in relation to the November 2010 sale of a 50% interest in the retail component of the centre. The City firm previously advised on the creation of Westfield London, which opened in 2008.
SJ Berwin and Freshfields Bruckhaus Deringer advised alongside Ashurst on the 50% sale, with SJ Berwin managing corporate aspects, and Freshfields advising on tax aspects.
Ashurst's Lumby commented: "It has been an amazing project to work on from a development perspective, it being the largest urban shopping centre in Europe and the gateway to the London Olympics in 2012, and it has kept us incredibly busy during a period in the UK where there has not been a great deal of large project work."
The 1.9 million sq ft shopping centre includes around 300 shops, 70 restaurants, a 14-screen cinema, three hotels, a bowling alley and the UK's largest casino.
SNR Denton, which has worked with Westfield since 2000 and is sole legal advisor on the Friary Centre in Guildford, has also been retained for management work on the new Stratford City centre.
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