Birketts has advised long-term client, M7 Real Estate, on the sale of three UK retail warehouse assets on behalf of the M7 Box+II fund to British Land.
The deal, worth more than £45m, marks the conclusion of the group’s asset management strategy for the trio of sites. The portfolio of more than 270,000 sq ft of retail warehouse space comprises St David’s Retail Park in Bangor, Queens Drive Retail Park in Kilmarnock, and Enham Arch Retail Park in Andover.
M7 is a leading European property investment firm, with a current portfolio under management totalling more than 2m sq ft.
The Birketts team advising on the sale was Cara Keen (Senior Associate, Real Estate Investment), Jade Musker (Associate, Real Estate Investment), Emily Seago (Trainee, Real Estate Investment), Katrina Bretten (Senior Associate, Construction), Nicole Clifford (Solicitor, Construction), Nikki Fonseka (Legal Director, Planning), Ben Clarke (Associate, Corporate Tax), Cameron Barlow (Partner, Head of Real Estate Investment) and our friends at DWF on the Scottish elements.
On the transaction, Cameron Barlow said: “We are pleased to have advised M7 on the complete lifecycle of these assets (initial acquisition, asset management and sale to British Land). We are looking forward to continuing our long-standing mandate and working closely with M7 on future strategies.”
John Pow, Managing Director at M7 Real Estate, said: “This transaction marks the conclusion of our asset management strategy for these assets and generates a solid return for our investors. It was a pleasure to work with the Birketts Real Estate Investment Team in delivering this conclusion for these sites. Our thanks go to the Team at Birketts for their ongoing support and expertise.”
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