9 May 2009

Sale of portfolio retail parks

Forsters sells £37.5m retail parks for Invista

Portfolio sale to PHF Investments Limited

Forsters has acted for clients of Invista Real Estate Management on the sale of portfolio of retail parks to PHF Investments Limited for £37.5 million. Clerical Medical and Halifax Life sold the Flare Portfolio which comprises three bulky goods parks and one retail warehouse park in Banbury, Ruislip, Newport, Isle of Wight and Aberdeen.

Howard Gill assisted by Linda Hayllar acted for the seller and Zahra Bardai and team at Berwin Leighton Paisner acted for the buyer. Andrew Bothwell of Tods Murray acted for the seller in respect of Scottish matters in relation to the Aberdeen property, whilst Chris McLeish of Biggart Baillie acted for the buyer.

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