Dentons, the world’s largest global law firm, has advised British retailers, Frasers Group, on the acquisition of The Mall shopping centre in Luton for £58 million.
The 900,000 sq. ft mall, covering 14 acres, houses more than 150 retailers including Primark, TK Maxx and H&M, and generates in excess of £11 million of gross income a year. The acquisition demonstrates the group’s ongoing investment and commitment to the long-term future of physical retail.
Frasers Group intends to roll out outlets for Frasers-owned chains, such as Flannels.
Andrew Henderson, UK Real Estate partner and client partner to Frasers Group, said: “We are thrilled to have advised Frasers Group on this acquisition. Frasers Group has a strong commitment to physical retail and a track record of investing in interesting and value add opportunities in retail. The acquisition was a nice opportunity for the Dentons team to showcase its ability to handle large, complex, corporate real estate acquisitions, providing the client with a full suite of corporate, real estate, employment, banking, and tax advice.”
Corporate partner Matthew Tinger, who led on corporate aspects of this deal, commented: ” Acting for longstanding clients like Frasers Group is core to our new five-year strategy and the acquisition is a clear sign of the resurgence of the physical retail sector.”
There were many contributors to the deal from our Real Estate team including Rupert Dowdell, Abbey Wiggett, Chryselle Stewart, Ben Battell, Andrew McGrath, Manisha Desai, Alexandra Plane, Helen Cairns and Dominic Fagan.
