10 Dec 2014 | 07:56 am |
International law firm Pinsent Masons has advised HSBC Alternative Investments on the £224.1m acquisition of one of the largest retail centres in Scotland from Land Securities.
'The Centre', in Livingston, is Scotland’s second-largest covered shopping centre and totals more than 1 million sq ft. It is home to over 160 retailers, including Primark, Debenhams, BHS and M&S.
The transaction was completed as part of HSBC Alternative Investments' "Club Deal" programme, which allows private investors to access prime real estate assets globally. Hines is acting as asset manager.
The deal completes a remarkable year for Pinsent Masons property practice in Scotland, which earlier in 2014 advised on the acquisition of the Overgate Shopping Centre in Dundee for around £125m and East Kilbride Shopping Centre for around £180m.
The Pinsent Masons team acting on the deal was led by Glasgow-based partners Tom Ferrier and Martin Devine.
Tom Ferrier says,
"At the turn of the year we stood back and identified retail assets as an area of significant opportunity for us. However, to have completed three such significant transactions in less than 12 months has been remarkable and indicates the high level of investor interest in these assets, both at a private and institutional investor level. Our clients have remarked particularly on our innovative approach to delivering the work and specifically our use of SmartDelivery technology to manage the process."
Land Securities, the vendor, was represented by CMS.
Key Contacts
Multinational law firm Pinsent Masons has appointed financial services partner Kanyi Lui as Head of China following the implementation of a refreshed leadership structure for the firm’s Asia Pacific network.
Multinational law firm Pinsent Masons has named Claire Hughes as the head of its global real estate sector.
Multinational law firm Pinsent Masons has advised Baillie Gifford Investment Management (Europe) Limited on its recent licensing application, which was authorised by the Central Bank of Ireland in April 2022.
Multinational law firm Pinsent Masons has named Claire Hughes as the head of its global real estate sector.
Multinational law firm Pinsent Masons has appointed employment partner, Neil Black, as the new head of its Manchester office.
Multinational law firm Pinsent Masons has promoted 23 to partner, effective as of 1 May, strengthening its partnership outside of traditional legal services and underscoring its strategic aim to build a purpose-led, professional services business with law at the core.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]