Linklaters has advised German investment manager RREEF Spezial Invest GmbH on its £60m acquisition of Prince Bishops Shopping Centre in Durham on behalf of one of its special funds.
The 155,000 sq ft shopping centre comprises 43 shops in two uncovered malls and includes a 400-space multi-storey car park. The scheme, which was developed 10 years ago, is anchored by Bhs, Boots and New Look and let to national multiple retailers including Next, River Island, Monsoon, HMV and Superdrug.
Real estate partner Joe Conder led the Linklaters team which advised RREEF. He was assisted by Chris Stonehill and Jonathan Whiteford on real estate and by Elliot Weston on tax and Louisa Noel on banking issues.
The acquisition is part of RREEF's current UK investment programme. Earlier this year, it purchased two UK properties: 25 Moorgate, EC2 and a logistics centre located outside Maidstone in Kent. Linklaters also advised RREEF on these acquisitions.
For further information, please contact:
Stacey Weaver, Marketing & Business Development Manager - Real Estate, on
(44 20) 7456 4772 or alternatively at stacey.weaver@linklaters.com