Leading international law firm Addleshaw Goddard has advised British Land on their £82m acquisition of Thurrock Shopping Park from Nuveen Real Estate.
The shopping park, which is located just off the M25 corridor and includes 1,600 free-to-use parking spaces, was purchased by the leading UK property company for around £3.81 per acre. Tenants include Marks & Spencer, Nike, Adidas and Asda among a number of other major retailers.
British Land said in a statement earlier last week that the purchase presented a 'clear urban logistics opportunity' and announced that footfall and sales within its nationwide portfolio of shopping centres was now close to pre-pandemic levels.
Addleshaw Goddard, which has worked with British Land on a number of high-value property acquisitions over the last several years, advised on all legal elements of the deal. The AG team was led by real estate partner Lee Sheldon and Michael Scott, with support from Phillip Milsom, Jon Poole and Charlotte Rivers. Paul Concannon and Kyle Rainsford advised on tax.