Addleshaw Goddard advised British Land on the deal.
British Land’s acquired Thurrock shopping park from Nuveen Real Estate.
The shopping park, which is located just off the M25 corridor and includes 1,600 free-to-use parking spaces, was purchased by the leading UK property company for around £3.81 per acre. Tenants include Marks & Spencer, Nike, Adidas and Asda among a number of other major retailers.
British Land said in a statement earlier last week that the purchase presented a ‘clear urban logistics opportunity’ and announced that footfall and sales within its nationwide portfolio of shopping centres was now close to pre-pandemic levels.
The AG team was led by real estate partner Lee Sheldon (Picture) and Michael Scott, with support from Phillip Milsom, Jon Poole and Charlotte Rivers. Paul Concannon and Kyle Rainsford advised on tax.
Involved fees earner: Paul Concannon – Addleshaw Goddard; Phillip Milsom – Addleshaw Goddard; Jon Poole – Addleshaw Goddard; Kyle Rainsford – Addleshaw Goddard; Charlotte Rivers – Addleshaw Goddard; Michael Scott – Addleshaw Goddard; Lee Sheldon – Addleshaw Goddard;
Law Firms: Addleshaw Goddard;
Clients: British Land;