9 October 2009

2 retail park acquisitions: Oxford and Guildford

Forsters completes £50m of retail purchases for British Airways Pension Fund

Forsters has completed two retail park acquisitions in Oxford and Guildford for the British Airways Pension Fund, with a total value of more than £50 million.

In the first deal BA Pensions purchased the Seacourt Retail Park in Oxford from Hammerson plc by means of a share acquisition. The property comprises a retail park, including an office building, with some 83,000 sq ft of lettable space.  The retail tenants include Habitat and Homebase and the office is let to HSBC.  The Forsters team was led by partner Eugene McMahon, assisted by Magnus Hassett, and Jeremy Whiteson assisted by Cosmas Wong dealt with the corporate aspects.  Hammerson plc were represented by Eversheds

In Guildford, the BA Pension Fund has acquired the Ladymead Retail Park from Standard Life. The property comprises a 50,000 square feet retail unit let to B&Q.  The transaction was again handled by Eugene McMahon assisted by Magnus Hassett.  Addleshaw Goddard acted for Standard Life.  

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