International law firm Stephenson Harwood LLP has advised Schroder UK Real Estate Fund on the acquisition of mixed-use assets in Hammersmith, London, from the Matterhorn Palos Partnership for in excess of £150 million.
The acquisition comprises the Kings Mall shopping centre, the Kings Mall car park and One Lyric Square, an adjoining self-contained office building. The Kings Mall has undergone significant refurbishment over the last few years and has over 40 retail tenants, including H&M, Sainsburys, River Island and Primark, in addition to a variety of restaurants and cafes.
Schroder UK Real Estate Fund is a property fund with approximately £1.9 billion of net assets.
Stephenson Harwood advised Schroder UK Real Estate Fund on all aspects of the complex acquisition, which involved corporate, real estate and tax advice. The transaction was completed within a month of the heads of terms being agreed.
William Saunders, corporate partner at Stephenson Harwood commented "We’re delighted to have advised Schroder UK Real Estate Fund on this transaction. This significant acquisition is in line with its strategy to capitalise on strong growth throughout the London markets. We look forward to assisting Schroders on future deals."
The Stephenson Harwood team was led by corporate partner William Saunders. He was supported by real estate partners Robert Newman and Simon Brading as well as John Meehan in tax.