The Metrocentre is one of the UK's leading retail and leisure destinations, attracting more than 16 million visitors each year. The transaction supports Landsec's continued investment in major retail assets and further strengthens its portfolio of retail-led properties.DACB acted for Landsec using a multidisciplinary team from across its Corporate, Finance, Tax and Real Estate practices. Our work included advising Landsec on the corporate structuring, legal due diligence and the associated restructuring of Metrocentre's CMBS financing.
Julitta Yates, Real Estate Partner, said, "This acquisition reflects the continued appeal of high-quality retail destinations. While the market has evolved significantly in recent years, assets with a compelling mix of retail, leisure and hospitality remain highly attractive to investors, occupiers and consumers alike."
Michael Pearce, Corporate Partner, added, " We were delighted to support Landsec on this strategically important transaction. Having also advised on Landsec's acquisition of Liverpool ONE in 2024, we are proud to continue supporting the business on major transactions. This deal demonstrates the strength of our Corporate, Finance, Tax and Real Estate teams and the value of seamless, integrated advice in delivering complex projects."
Alison Key, Head of Real Estate at DAC Beachcroft, commented, "Retail destinations continue to play an important role in towns and cities across the UK, bringing together retail, leisure and other experiences that attract both visitors and brands. Through our work with investors, owners and operators, we see first-hand the continued focus on creating places that support occupier demand and deliver long-term value."
The deal builds on DACB's strong track record in the retail and destination-centres sector. Recent highlights include advising Royal London on the acquisition of a 50 per cent stake in centre:mk and advising URW on the acquisition of a 25 per cent stake in Edinburgh St James.
