Linklaters ties up Kent shopping centre deal

Lawyers from Linklaters & Paines are breathing a sigh of relief at the end of complex negotiations to finance what will be one of Europe's largest shopping centres, Bluewater, in Kent.

A team of five partners and five assistants, including property partner Martin Elliott and property tax partner Simon Clark, worked for a year with the developer Lend Lease, to negotiate the arrangements for the 1.65million sq ft development. Marks & Spencer, John Lewis and House of Fraser have already reserved stores.

A syndicate of three bank investment companies, advised by Cameron Markby Hewitt and Wilde Sapte, are taking a £375m equity share in the development, while Prudential Assurance, represented by Lovell White Durrant, is taking a 15 per cent rent share.