Harvey Jacobson , advised by Berg, takes stake in shopping centre
Wednesday, 11 April 2012
The Westgate Shopping Centre in Stevenage has been acquired from Aviva for £8.4million by WD Ltd on behalf of WD Westgate Partners LLP.
Keith Kennedy and Ian Barker led the corporate and property teams at Manchester based Berg, which advised Harvey Jacobson on his substantial investment in WD Westgate Partners LLP.
Gateley's Manchester office acted for WD Ltd, which is an established shopping centre specialist with major centres across the UK.
The 70,000 sq.ft, 35 store centre, which is held on a long lease from Stevenage Borough Council, has been owned by Norwich Union/ Aviva since it opened in October 1988.
Peter Everest of WD commented, "We see Westgate as the heart of Stevenage – a thriving town in the South East with sub optimal retailing. Our plan is to invest significantly in
the fabric and positioning of Westgate and attract retailers to enhance and grow the offer. We anticipate achieving full occupancy within a few weeks".
To discuss how we can provide further advice in connection with these issues, please contact Keith Kennedy, a Partner in our Corporate Team, by email to keithk@berg.co.uk
or alternatively you can call Keith on 0161 833 9211.
The information and opinions contained in this article are not intended to be comprehensive or to provide legal advice. No responsibility for this article's accuracy or correctness is assumed by Berg or any of its partners or
employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of the contents of this article.