Lovells’ real estate team has received a boost after picking up new client Christian Salvesen, a European logistics company.
Lovells advised Christian Salvesen on a £47.5m sale-and-leaseback arrangement with Carisbrooke Investments for a number of its UK properties. The deal closed in late September.
Carisbrooke was advised by Herbert Smith, with real estate partner Jeremy Walden leading. While the Lovells team was led by commercial real estate partner Jackie Newstead alongside corporate partner Richard Ufland.
Salvesen is known to use a number of smaller firms, usually based outside London, for its real estate work, but called in Lovells for this deal.
Ufland met with Salvesen legal director Edward Peppiatt, leading to the firm picking up the property work, which was structured through a limited partnership.
Peppiatt said in a statement: “This was an important transaction for us and we very much enjoyed working with Lovells on it.”
He added that the company would use the firm again.
Newstead said: “It’s always nice to get something new, but when it results in continued work it gives you a nice warm glow.”
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