Press Release
18 May 2007
McGrigors advises on £103 million Kwik Fit sale
UK law firm McGrigors LLP has further established its strength in the real estate sector having advised The Royal Bank of Scotland in funding the 25-year sale and leaseback deal of 148 Kwik-Fit outlets across the UK.
The properties, which include 36 units in Scotland, were acquired for £103 million by a new joint venture vehicle set up by Glasgow-based Paradigm Real Estate Managers and GE Real Estate UK.
Russell Munro, a partner within the real estate team at McGrigors, said: “For McGrigors this deal represents further evidence of our burgeoning reputation in the real estate sector and our growing expertise in transactions of this nature.”
Recent high-profile transactions undertaken by the McGrigors real estate team include the acquisition of Motherwell Town Centre, advising the Bank of Scotland Corporate, part of HBOS plc on a £119 million loan facility for the regeneration of Silvertown Quays in the Royal Victoria Docks area of East London, the acquisition and planning aspects of the major mixed use development at Bellsdyke Hospital in Larbert and the sale of Hilton Campus by the University of Aberdeen.
McGrigors Real Estate Group comprises more than 70 lawyers based in London, Edinburgh, Glasgow and Belfast who are dedicated to providing innovative commercial advice on all aspects of commercial property law.
For further information please contact:
Louisa Hollins
Financial Dynamics
Telephone - +44 (0) 20 7269 7108
Email - Louisa.hollins@fd.com
Andy Peat
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - andy.peat@fd.com