Osborne Clarke advises Ellandi and Avenue Capital on the sale of Bootle’s The Strand
International legal practice Osborne Clarke has advised Ellandi in joint venture with Avenue Capital, on the sale of The Strand Shopping Centre in Bootle to Sefton Borough Council.
Ellandi has asset managed the shopping centre for the last two and a half years and will continue in this role, working with Sefton to deliver their regeneration strategy for the town.
Acting as Bootle’s main retail hub, the Strand complex includes 100 retail units with tenants such as TJ Hughes, Wilko, New Look, B&M and Iceland. Based in the heart of Bootle, a few miles North of Liverpool, the shopping centre was acquired by Ellandi and Avenue Capital in 2014 for £26.5m.
A cross-sector Osborne Clarke team advised on the sale, which was led by Senior Associate Emma McPeake. Colleagues from the corporate team included Partner Paul Smith and Associate Harriet Clarke while Partner Tracey Wright and Associate Alistair Godwin advised on tax matters.
The team has advised Ellandi for the past five years, and in addition to the purchase of The Strand in 2014, currently manage nine other shopping centres on behalf of Ellandi in joint venture with other equity partners.
Ellandi client Partner Jo Footitt commented: “We’re really pleased to have advised Ellandi for the past five years. This transaction is a great example of the breadth and depth of our real estate team’s expertise.”
Osborne Clarke is a recognised industry leader in real estate providing a comprehensive lifecycle service and advising major real estate industry organisations, ranging from developers and investors to property funds and corporate occupiers. In addition to the services provided to Ellandi and Avenue Capital, the team provides a full spectrum of services including, employment, planning, energy and environment, data protection, litigation and health and safety.