Lawrence Graham (Roger Benson, Tim Railton) represented Legal & General Property on creating a partnership with Bracknell Property Unit Trust to form the Bracknell Regeneration Partnership. The newly-formed entity will work with Bracknell Forest Borough Council on a £500m town centre regeneration project.
Lovells (Alison Heppenstall, Russell Pardoe) acted for Prudential on its acquisition of two retail parks. The company bought the Hylton Riverside Retail Park for £24.6m and the Regent Centre for £24.7m, both from the Royal Bank of Scotland Trust Company (Jersey) and RBSI Trust Company, which acted as trustees of the Hercules Unit Trust and Hercules Property UK. Jones Day Gouldens advised the vendors.
Theodore Goddard (Mark Dunlop) represented Singer & Friedlander Leasing on a £60m PFI project for the Belfast Cancer Centre. Singer & Friedlander provided senior debt and equipment leasing facilities to the project company, a consortium between John Graham (Dromore), H&J Martin and Healthcare Technology International. McGrigor Donald also acted for Singer & Friedlander. The project company was advised by Masons, while Belfast City Hospital Health and Social Services Trust was represented by Dickinson Dees. Taylor Wessing acted for Varian Medical Systems, while Portner & Jaskel represented GE Medical Systems.
Herbert Smith (Gareth Roberts, Alex Kay) acted for BAA on the sale of its interests in manufacturers’ outlet centres at Livingston, Mansfield and York to the Designer Retail Outlet Centres Limited Partnership, a client of Morley Fund Management. BAA also sold its stake in the manufacturers’ outlet centre in Ashford to CGNU Life Assurance. Overall, the disposals reaped £165m. Ashurst Morris Crisp represented the purchasers.