BDO provided transaction support including financial and tax due diligence to URW on its buy out of the Croydon Partnership from Hammerson Plc.
The Croydon Partnership is a significant urban regeneration project, which includes the rebuilding of the Croydon Whitgift and Centrale shopping malls as well as high-street retail frontage, office blocks, and multi-storey car park.
With URW previously working in joint venture with Hammerson on the Croydon Partnership, the transaction cements URW’s full ownership of the site and development.
“The BDO team who supported URW on our acquisition of the Croydon Partnership provided extensive financial and tax advice/support throughout this complex transaction, demonstrating industry leading commercial knowledge throughout. Working with the team has been a seamless process and their collaborative approach has contributed to the success of the transaction.”
Jonathan Hodes, Chief Financial Officer UK, Unibail-Rodamco-Westfield
"It was a pleasure working with the URW team on this deal. We are delighted to have been able to support in such an exciting and meaningful project to the local community of Croydon. We wish the URW team all the best with the next phase of the project."
Simon Hall, Corporate finance partner, BDO LLP