Olswang completes retail-led hat trick for Protego

Olswang has strengthened its relationship with Protego Real Estate Investors following advice on three retail-led transactions worth more than £142m in the past three months.

Olswang secured the first property instruction from Protego shortly after the fund manager’s founding in May 2004. It has acted for it ever since, with the relationship culminating in the latest purchase of four retail parks for £67m from Nabarro Nathan-son client Land Securities.

Protego, the fund manager for UBS Wealth Management, bought the four retail parks in Bradford, Fareham, Gloucester and Halifax, as well as two shopping centres worth more than £75m in Accrington and Kettering, in late 2005.

Olswang real estate partner Martyn Needham said: “These deals are testament to the strength of the working relationship the Olswang team has developed with Protego over a very short space of time.” Solicitors Heidi Henson, Melissa Jeffries and Catherine Maxwell assisted Needham.

For Nabarros, the deal marked its first work for the retail parks team of Land Securities. The firm also advised on the £69m purchase of a Chester retail and leisure park from British Land, which was advised by SJ Berwin.

Nabarros retail specialist partner Belinda Solomon led the advice on both transactions, assisted by Verity Waington on the sale to Protego and Clare Thomas on the purchase from British Land. “We’re delighted to have been able to hit the ground running and conclude two significant deals in a short period,” she said.