Addleshaw Goddard's Corporate and Real Estate teams have advised Surrey Heath Borough Council (SHBC) on its £86m acquisition of The Mall Shopping Centre in Camberley from Capital & Regional.
The off-market deal is one of the largest local authority-backed town centre investment initiatives of recent years and is the latest of a number of acquisitions by SHBC into Camberley town centre as part of its ongoing plans to invest upwards of £150m into the regeneration of the town centre.
SHBC is funding the project through local government finance including from the Public Works Loans Board.
Andrew Martin, Partner at Addleshaw Goddard stated: "We are delighted to have advised SHBC on this ground-breaking deal which cements SHBC's ambitious Camberley regeneration strategy."
The Mall (which will be re-branded during 2017) is a 390,000sqft covered shopping centre and is home to more than 150 national and independent retailers including; Smiggle, O2, TopShop, Patisserie Valerie, Jones the Bootmaker and Monsoon, anchored by House of Fraser, Boots and Primark.
Surrey Heath CEO Karen Whelan stated: "I would like to thank the Council’s property advisers, Montagu Evans, and legal advisers, Addleshaw Goddard, who have helped secure this momentous deal for the Council."