Berwin Leighton Paisner (BLP), Irwin Mitchell and Pinsent Masons have helped an evangelical Christian charity become landlord of a ’dark store’.
Irwin Mitchell advised developer Gazeley UK, which is a longstanding client of Jon Vivian’s real estate team, which joined from SJ Berwin in the autumn, in relation to its interest in an out-of-town site at Enfield.
Partner Jo Footitt, associates Louise Cartwright and Richard Kelly and construction partner David Parton provided advice to the company as it negotiated a 20-year lease on a 152,000sq ft unit, due to be completed in April.
Having signed the deal Gazeley sold its interest to Pinsents client Christian Vision, which uses funds from investments to finance missionary work around the world.
Rental income is £1.1m per year and Christian Vision will pay £20.2m for the freehold interest. The organisation was advised by Pinsents associates Rebecca Glover and Rebecca Rowley. Tesco, which was advised by BLP associate Celia Berg, will use the warehouse as an online distribution centre.
“It’s what’s called a ’dark store’,” commented Cart-wright. “It’s laid out like a store; Tesco employees go round with baskets to pick customers’ orders off the shelves.
“It’s quite strategic for Tesco because the location’s right on the M25.”