Ashurst has advised Morrisons in relation to the sale and leaseback of a customer fulfilment centre at Birch Coppice Business Park, Dordon, Birmingham operated by Ocado.
The facility serves both Ocado’s and Morrisons’ online retail businesses.
The total consideration for the disposal of Morrisons’ long leasehold interest was £92.33 million. The transaction also included the grant of a pre-emption right, buy-back option and a forfeiture protection deed all in favour of Morrisons.
The Ashurst multi-disciplinary team was led by real estate partner Melanie Jordan (picture) supported by senior associate Rudi Hakiman and associates Nada Al Ansari and Chris Whitehouse. Partner Dominic Ross provided corporate advice.
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