Invesco Real Estate’s acquisition of 50% interest in Southside, Wandsworth and new joint venture with Land Securities

Ashurst has advised Invesco Real Estate (IRE), a global real estate investment manager, in relation to the acquisition of a 50% interest in one of London’s largest shopping centres, the 630,000 sqft Southside Shopping Centre in Wandsworth, South London, resulting in a new 50/50 partnership with listed property company, Land Securities plc, which will take over the asset management of the centre from Delancey.

The deal which values the centre at £300 million sees IRE acquiring the 50% interest in the asset from Delancey held through a Jersey limited partnership together with the negotiation of the new joint venture and asset management arrangements with Land Securities.

The Ashurst multi-disciplinary team was led by Darren Rogers (picture) with support from a core team of Patrick Williams, Devina Rana, Rachel Whittaker and Anisha D’Cruz (real estate), Nick Cheshire, Harriet Levett, Tara Waters and Amber Walker (corporate), Simon Swann and Tim Gummer (tax) and Matthew Bool and Matt Pearson (construction).

Involved fees earner: Darren Rogers – Ashurst; Patrick Williams – Ashurst; Devina Rana – Ashurst; Rachel Whittaker – Ashurst; Anisha D’Cruz – Ashurst; Nick Cheshire – Ashurst; Harriet Levett – Ashurst; Tara Waters – Ashurst; Amber Walker – Ashurst; Simon Swann – Ashurst; Tim Gummer – Ashurst;

Law Firms: Ashurst;

Clients: Invesco Real Estate;