Nabarro, Berwin Leighton Paisner (BLP) and Jones Day have scored leading roles as Norway's sovereign wealth fund acquires a 50% stake in Sheffield shopping centre Meadowhall for £308m.

Norges Bank Investment Management (NBIM) has bought the stake from London & Stamford Property and Green Park Investments, with property giant British Land owning the remaining 50% of the retail hub, which has a gross asset value of around £1.5bn.

British Land turned to Jones Day for advice on the new joint venture agreement with NBIM, with the firm's co-head of real estate, David Roberts, and corporate partner Giles Elliott at the helm, flanked by tax partner Blaise Marin-Curtoud and real estate partner Alex Millar. As well as the Meadowhall Shopping Centre, the new joint venture includes 74 acres of adjoining development land.

BLP advised NBIM on the acquisition, with the firm's team understood to include head of funds and financial services Anthony Grossman and corporate finance partner Simon Pollock.

Nabarro meanwhile advised London Stamford, fielding a team led by indirect investments partner Amanda Howard, real estate partner Simon Staite and tax chief Michael Cant.

Nabarro and Jones Day advised on British Land's 2009 sale of 50% of its stake in the shopping centre to London & Stamford for £587.7m, with both buyer and seller turning to the same teams for advice.

Elliott commented: "We are very pleased to have advised British Land on this joint venture, which we are confident will prove a hugely successful relationship, and one which oversees continued growth and development of the Meadowhall centre."

Meadowhall attracts more than 24 million shoppers every year, with the centre housing high street names including Marks & Spencer, Debenhams, House of Fraser, Apple, Hollister, Primark, Next and Top Shop.