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publicado el 16 de OCTUBRE de 2009

SJ Berwin advises British Land on sale of Debenhams portfolio for £62 million and on further sales

International law firm SJ Berwin’s real estate division has advised longstanding client, British Land on the sale of a portfolio of six Debenhams department stores to an Israeli investor Igal Ahouvi for approximately £62 million. The three freehold and three long-leasehold stores at Sheffield, Stratford-upon-Avon, Harrow, Canterbury, Eastbourne and Taunton were all let to Debenhams Retail plc and were acquired by British Land in 2005 as part of a larger sale and lease-back transaction in respect of which SJ Berwin also advised British Land. Real Estate associate Jason Tann led the SJ Berwin Team sales team. The team comprised of real estate associates Louise Tainton and Kutahya Albrecht, corporate associate Debra Hoe and tax associate Giles Bavister. SJ Berwin finance partner Gillian Smith led the finance team. The purchaser was advised by Paul Sheeter, real estate partner at Ingram Winter Green. He was assisted by associate Pauline Glen. This portfolio sale followed other Debenhams disposals for British Land, totalling £10 million. These included the Debenhams department stores at Kings Lynn and Salisbury, sold respectively for £3.1 million and £5.42 million. Lexton Investments, advised by Shranks, purchased the Kings Lynn Store and Smith Bradbeer & Co Limited, advised by Lindsey Pollard of Reynolds Porter Chamberlain, purchased Salisbury. SJ Berwin Associate Jason Tann assisted by Patrick Williams advised British Land in both cases.