1 August 2016
International law firm Watson Farley & Williams (“WFW”) has advised BP Pension Fund on the acquisition of a retail park in Huddersfield for £18.4 million from Helical. The scheme is an established shopping destination totalling 96,899 sq ft and is fully let to tenants including Aldi, Dunelm, Matalan and B&M. The retail park has the added benefit of further investment and asset management opportunities for the fund.
London real estate and relationship partner Hetan Ganatra led the WFW team advising BP Pension Fund, assisted by senior associate Sahina Jada. Partner Richard Stephens and senior associate Nick Walker advised on the tax and planning & environmental aspects respectively.
Hetan commented: “I’m delighted to have been able to assist BP Pension Fund on this acquisition, demonstrating their continued investment in the UK commercial real estate sector in a challenging economic environment”.
Similar transactions Hetan has advised BP Pension Fund on include, most recently, acting for the fund on two forward funding developments in Birmingham and Leeds and the disposal of an office building in Hammersmith, West London, all of which closed in the second quarter of 2016.