News

Read about the latest developments at Shepherd and Wedderburn - as well as updates on the law. There are also details of our latest deals, and our media centre for journalists.

Media Releases
2007

05 April
2007

£680m shopping spree for British Land

Leading UK law firm Shepherd and Wedderburn, on behalf of British Land in its capacity as property manager for the Hercules Unit Trust, has closed a significant property deal for the transfer of almost one million square feet of retail property worth £680 million.

The transaction involved the transfer funded by the Bank of America of Fort Kinnaird Retail Park, Edinburgh into an English limited partnership formed with The Crown Estate Commissioners and also included the re-financing of Glasgow Fort Retail Park (also owned by Hercules Unit Trust) from a facility with Royal Bank of Scotland into a new facility with ABN Amro.

Nick Ryden, property partner at Shepherd and Wedderburn, said: “Orchestrating a transfer of this size, scale and complexity whilst liaising closely with the client's other retained legal and property advisers further demonstrates the experience and capabilities of the property and other specialist teams at the firm.”

Established in the early 90s, Fort Kinnaird Retail Park is the UK’s largest retail and leisure park, spanning 51,000 sq m (584,000 sq ft).  It has attracted a wealth of established high street names in 48 retail units, including Marks and Spencer, Gap, H&M and Borders, as well as featuring offices, multiplex cinema, Megabowl and a number of food and drink outlets. 

Glasgow Fort Retail Park, adjacent to the M8 motorway, encompasses 36,500 sq m (387,500 sq ft) and features further high street staples to cater for Glasgow’s style conscious shoppers, such as Zara, Miss Selfridge and TopShop.


« Back to Press Releases