International law firm DAC Beachcroft has advised Landsec on its acquisition of a 92 per cent stake in Liverpool ONE, one of the premier shopping centres in the UK.
Liverpool ONE is one of the UK’s most modern major retail destinations, spanning over 1.6 million square feet and welcoming 22 million visitors annually.
The acquisition aligns with Landsec’s objective to grow its investment in major retail destinations. The company will now own and manage seven of the top 30 shopping centres in the UK.
This landmark transaction also adds to DACB's portfolio of advising on high-profile, market-shaping real estate deals in 2024. Most recently these include Royal London Asset Management Property’s acquisition for a 50 per cent stake in Milton Keynes’ largest shopping centre, and Quintain’s sale of two build-to-rent developments at Wembley Park.
The cross-sector DACB team advising Landsec was led by partners Julitta Yates, Mike Pearce and Steven Pitchford supported by tax partner Julian Feiner.
Julitta Yates said, ‘‘We are delighted to have advised Landsec in acquiring a stake in a premier retail destination building on our long standing relationship supporting Landsec in other major retail centres across the UK."
Alison Key, DACB’s Head of Real Estate, commented, ‘‘Advising on a transaction of this scale further demonstrates the strength and depth of capability to deliver exceptional results on complex, high-profile matters."
