Jersey lawyers Edward Scott and Co have recently advised blue chip property investor Landsec on its acquisition of an additional 17.5% stake in Bluewater Shopping Centre in Kent.
Landsec bought this new stake from GIC, the Singaporean sovereign wealth fund, for £120m. It increases Landsec’s ownership in one of the UK’s leading retail destinations to 66.25%. The acquisition was made via units in a Jersey Property Unit Trust.
Bluewater has 210 stores, 50 cafés and restaurants, and a 17-screen cinema. It serves over 27 million visitors a year.
Edward Scott (pictured), Principal, and Christa Cuthbert, Senior Associate, worked on the transaction.
Edward Scott said: “It was a pleasure to work with Landsec again, towards its objective of growing its investment in major retail destinations. We are a boutique Jersey practice, focusing on a principal-led, responsive approach, and are lucky to work on great UK real estate transactions, like this one for Landsec, where investors hold through Jersey vehicles”.
