Linklaters advises on sale of development sites from Tesco
Linklaters has advised a fund and clients instructed by Meyer Bergman, the pan-European real estate investment manager, on the sale of fourteen sites development sites held by Tesco. The transaction, worth £250 million, is for sites suitable for mixed use and residential property.
Tesco and Meyer Bergman have already reached completion on eleven sites.
Markus Meijer, CEO at Meyer Bergman, said:
“We see this investment as an opportunity to make Tesco's place-making ambitions for these sites happen and to make an enduring contribution to local communities. Backed by long-term and prudent global institutional capital, Meyer Bergman has a wealth of experience and expertise in the development and asset management of mixed-use properties. We look forward to engaging with local stakeholders so that immediately we can start moving the various projects forward.”
The Linklaters team was led by real estate partner Simon Price, assisted by associates Matthew Topp and Jack Shand. Planning advice was given by partner David Watkins and construction advice was given by construction counsel Paul Wilson and associate Robert Tunningley.
For further information please contact Katie Taylor on 020 7456 2287
Linklaters LLP is a leading global law firm, supporting clients in achieving their strategies wherever they do business. We use our expertise and resources to help clients pursue opportunities and manage risk across emerging and developed markets around the world
Tesco was advised by Berwin Leighton Paisner, with real estate partners Justine Oldale and Sunita Chawla leading.