Olswang, Paul Hastings, Dundas lead on UK shopping centre sale
Olswang, Paul Hastings and Dundas & Wilson have all advised on the £130m sale of the Worcestershire Kingfisher Shopping Centre.
May 24, 2012 at 07:03 PM
2 minute read
Olswang, Paul Hastings and Dundas & Wilson have all advised on the £130m sale of the Worcestershire Kingfisher Shopping Centre.
Olswang has acted for one of the two buyers, UK property asset management company Capital & Regional, with London real estate partners Tim Westhead and Carol Griffin leading the team.
Paul Hastings advised the second buyer, Oaktree Capital Management, fielding a team headed by London real estate head Mark Eagan.
Meanwhile, Dundas & Wilson advised the seller, unnamed investors with Scottish Widows, led by senior associate Lee Jackson.
Westhead said: "We're working with very sophisticated national and international investors who are looking for targeted opportunities.
"The knock-on effects of responsible investment can be to boost local economies, which of course can curry favour with town councils, bolster employment and community engagement and even the residential property market."
The deal follows a host of shopping centre mandates for Olswang in the past 12 months, including the £77m acquisition of Liverpool shopping mall the St John's Centre by long-term firm client InfraRed European Active Real Estate Fund, which completed at the close of April 2012.
The UK top 40 firm advised on nine shopping centre disposals in 2011, the largest of which was
the £145m sale of the Sapphire Portfolio, which has shopping centres in Cardiff, Burnley and Harlow, to property investor Addington Capital in February last year, with Olswang acting for administrator
Grant Thornton.
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