It represents a massive win for BLP and is understood to build on a relationship Ha-mmerson originally inherited from a joint venture partner.
The tender included Brent Cross (London NW4) and The Liberty (Romford), which will stay with Eversheds. BLP was already advising on West Quay (Southampton) and is expected to gain asset management work on The Shires (Leicester), on which Herbert Smith has been advising, and The Oracle (Reading), previously with Nabarros.
It is understood that Hammerson wanted to rationalise its advisers for practical and economic reasons. Eversheds is expected to hold on to its role on Birmingham’s Bullring, which was not included in the tender.
Herbert Smith and Nabarros are still working for the client in other capacities: Nabarros on town centre schemes in Peterborough, Leeds, Kingston and Sheffield, and Herbert Smith on development work on the Shires Shopping Centre, as well as on the development portfolio acquired from Railtrack.
Nabarros partner Simon Staite commented: “We’re developing a very strong retail asset management practice in Sheffield, but we understand Hammerson’s wish to centralise.”