CMS advises Land Securities on sale of Scotland’s second largest shopping centre

CMS has advised longstanding client Land Securities on the £224.1m sale of The Centre and Almondvale West Retail Park, Livingston to HSBC Alternative Investments. The Centre is Scotland's second-largest covered shopping centre and totals more than 1 million sq ft with over 160 retailers.

Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.

The CMS team was led by real estate partner Allan Wernham alongside corporate partner Graeme Bruce, real estate senior associates Caroline Coulter and Kirsten Partridge, corporate senior associate Simon Massey and corporate lawyer Matthew Harkness.

Commenting on the transaction, Allan Wernham says: “We are pleased to be involved in this significant sale, which represents an important step for Land Securities in their ongoing commitment to reshape their shopping centre portfolio.”