News
18 Nov 2011
DLA Piper advises on Ealing Broadway Shopping Centre aquisition
Press Release
DLA Piper has acted for Dutch real estate investor Wereldhave on its acquisition of Ealing Broadway Shopping Centre in West London, in a deal worth €182.2 m.
The transaction, which is scheduled to complete in mid-December, will see Wereldhave acquire the main part of the Shopping Centre, consisting of 28,200 m² of retail space with 62 shops including major brands such as; Primark, Tesco, Marks & Spencer and Boots.
The large DLA Piper team drawn principally from the Liverpool and Manchester offices was led by Real Estate partner Mark Beardwood and included Vanessa Rickard, Richard Thompson, Sylvia Shepherd, Kate Creer (planning), Earle Brady (construction) and Mark Burgess (tax).
This transaction is an important purchase for Wereldhave as it takes steps towards creating a UK portfolio of mid-sized Shopping Centres. It brings the share of Shopping Centres within their UK portfolio to 70%. The remainder consists primarily of London offices.
Mark Beardwood, Partner at DLA Piper said "This transaction illustrates DLA Piper's ability to put together a broad multi-office team to deal with high value complex transactions. The support from the Manchester team led by Vanessa Rickard was absolutely tremendous and demonstrates once again that we are 'One Team, No Borders.'"
ENDS
This information is intended as a general overview and discussion of the subjects dealt with. The information provided here was accurate as of the day it was posted; however, the law may have changed since that date. This information is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. DLA Piper is not responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and conditions on our website.
Copyright © 2012 DLA Piper. All rights reserved.