Deal typeTransaction Services
IndustryReal Estate & Retail & Consumer
Sub-industryConstruction & Consumer & Retail
Client nameLandsec
BDO supported Landsec with financial and tax due diligence, SPA review and service charge advice in connection with the acquisition of Metrocentre, Gateshead.
Landsec acquired Metrocentre, one of the UK's largest retail and leisure destinations, from Tynehawk Holdings (Jersey) Limited for a net cash consideration of £516 million.
Located in Gateshead, the asset comprises 2.1 million sq. ft. of retail and leisure space across the shopping centre and adjacent retail park, with 95% occupancy and a strong line-up of leading international brands. The acquisition expands Landsec's major retail platform and aligns with its strategy to increase investment in dominant retail destinations with attractive income returns and long-term growth potential.
The BDO project team included:
Simon Hall, Andrew Porteous, Nick Gee, Jess Perrett, Alastair Murray (Financial due diligence)
Hira Sharma, Kim Cook, Josh Dover, Alex Wilson, Justin Hui, Jie Ji (Tax)
Laurence Mills (SPA)
Yasir Sheikh and Danette Parco (Service charge)
Landsec acquired Metrocentre, one of the UK's largest retail and leisure destinations, from Tynehawk Holdings (Jersey) Limited for a net cash consideration of £516 million.
Located in Gateshead, the asset comprises 2.1 million sq. ft. of retail and leisure space across the shopping centre and adjacent retail park, with 95% occupancy and a strong line-up of leading international brands. The acquisition expands Landsec's major retail platform and aligns with its strategy to increase investment in dominant retail destinations with attractive income returns and long-term growth potential.
The BDO project team included:
Simon Hall, Andrew Porteous, Nick Gee, Jess Perrett, Alastair Murray (Financial due diligence)
Hira Sharma, Kim Cook, Josh Dover, Alex Wilson, Justin Hui, Jie Ji (Tax)
Laurence Mills (SPA)
Yasir Sheikh and Danette Parco (Service charge)