Nabarro acts on sale of The Howard Centre, Welwyn Garden City
27 October 2009
Nabarro LLP has advised Land Securities Group PLC (Land Securities), which has exchanged contracts for the sale of The Howard Centre, Welwyn Garden City, to Coal Pension Properties Limited, for £48m.
Built in 1990, the 230,000 sq ft shopping centre provides a net annual rental income of approximately £3.9m and is anchored by an 84,000 sq ft Marks & Spencer store. Other major occupiers include WH Smith, Boots, Next, Monsoon and Top Shop.
Senior associate Nathan Rees advised Land Securities, assisted by associate Ben Everitt. Coal Pension Properties Limited was advised by Lovells.
Commenting on the sale, Nathan Rees said:
"This transaction represents one of the last assets to be disposed of by Land Securities as part of its sales programme – the proceeds generated will now be available to support an acquisition and development pipeline, and we look forward to working with the client as it identifies new opportunities."
If you would like any further information or have any queries please contact:
Charlotte Collins-White
Lansons Communications
T +44 (0)20 7566 9706
charlottet@lansons.com
