The 470-acre plot in Cumbria has been bought by a consortium made up of GdF Suez, Iberdrola and Scottish and Southern Energy for a total of £70m in a bid to muscle in on the nuclear new-build market.
Burges Salmon partner Ian Salter led advice to Sellafield manager the Nuclear Decommissioning Authority (NDA), with assistance from real estate partner Paul Browne.
The proceeds of the sale will be used by the NDA to fund the decommissioning of the fleet of existing nuclear sites.
Pinsent Masons property partner Kevin Boa and head of environment Paul Rice led advice to the purchaser, Site NNB.
Actors in the nuclear market are eagerly awaiting the publication of the Government’s National Policy Statement on the siting of new nuclear power stations, expected in the coming months.
The Lawyer recently reported that the NDA is looking to review its current legal panel, which includes firms such as Burges Salmon, DLA Piper, Field Fisher Waterhouse, Herbert Smith and Norton Rose (12 October 2009).