Edward Scott and Co supported Landsec with its recent acquisition of Gateshead’s Metrocentre, one of Europe’s largest shopping centres and the leading retail and leisure destination in the North East.
Metrocentre is home to more than 280 stores and welcomes more than 16 million visitors each year. The £516m acquisition further strengthens Landsec’s retail platform and brings a third top 10 UK retail-led destination into Landsec’s portfolio.
The acquisition was made via shares in a Jersey company. Edward Scott and Christa Cuthbert advised Landsec, alongside DAC Beachcroft who advised on English law.
Edward Scott (pictured) said: “We very much enjoyed working with Landsec and the DAC Beachcroft team on this fast-paced transaction. We feel our small and experienced Jersey team is well placed to make sure the Jersey components mesh seamlessly with the overall. And we like to demonstrate that on larger, complex transactions like this, working collaboratively across from the biggest Jersey brands. It is good to see Landsec continuing to implement its strategy of growing its retail platform.”
