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Nabarro acts on multimillion pound retail sale for Land Securities

23 June 2009

Nabarro LLP has advised commercial property investor and longstanding client of the firm, Land Securities Group PLC on the £61 million sale of Aintree Racecourse Retail Park to London and Stamford Retail Limited.

Land Securities sold the retail park, which it had owned since 1986, through its group subsidiary, Ravenside Investments Limited. Nabarro acted for Land Securities on the drafting of contracts and dealing with the sale of freehold interest in the property. The team also advised on the legal aspects in regard to running refurbishments on the park as some of the units have been recently renovated for high street retailers, M&S, Next and Boots.

Nabarro real estate managing associate Rosalind Hill led the team, with assistance from real estate associate Marilou Pavlou, construction associates Debbi Simon and Alistair McGrigor, planning partner Joshua Risso-Gill, and planning associate Kathryn Hampton. Jones Day advised London and Stamford Retail Limited.

Commenting on the sale, Rosalind Hill said:

“It is always a pleasure to work with the team at Land Securities. The sale of Aintree Racecourse Retail Park followed substantial asset management by Land Securities involving relocations of tenants and bringing three new national retailers into the park. The team here has advised upon the asset management of the retail park over a two year period which has substantially increased the number of customers. This deal is further evidence that with a strong management team and a focus on efficient balance sheet management, our client can successfully see through real estate transactions in what is still a very challenging market.”

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