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Nabarro acts on £70 million shopping centre sale

30 June 2009

Nabarro LLP has advised Ravenseft Properties Limited, a subsidiary of longstanding client Land Securities Group plc, on the circa £70 million sale of its freehold interest in Fremlin Walk, Maidstone, to a joint venture comprised of Europa Fund III and SCOOP AM.

Fremlin Walk is a 350,000 sq ft shopping centre which opened in 2005, providing an annual rental income of £6.1 million.

The sale of Ravenseft Properties’ interest in Fremlin Walk is one of few shopping centre disposals to be concluded in the UK market this year. Other transactions include London & Stamford’s acquisition of a 50% interest in Meadowhall in Sheffield, on which Nabarro also acted.

Nabarro real estate senior associate Nathan Rees led the team with assistance from a team including real estate associate David Crossley, and construction associate Tom Marke. Norton Rose advised the buyer.

Commenting on the sale, Nathan said:

"This sale marks another significant retail investment transaction for the Land Securities Group on which Nabarro has advised. It was a demanding transaction, but we were able to draw on expertise from a range of disciplines across the firm to achieve a successful completion.”

If you would like any further information or have any queries please contact

Natalie George
Lansons Communications
T +44 (0)20 7294 3691
natalieg@lansons.com