News & Events | News

Friday 6th June 2008

European law firm SJ Berwin LLP’s real estate division has advised long standing client British Land on the disposal of two Sainsbury’s supermarkets at Swindon and Surbiton to an undisclosed buyer for a combined total of £56 million.

The supermarkets were acquired from Sainsbury's several years ago as part of a sale and lease-back portfolio.  The sales exchanged prior to the recent conclusion of the £1.2 billion joint venture between British Land and Sainsbury's in relation to 39 Sainsbury's stores, which SJ Berwin also acted upon, and were excluded from that transaction.

The SJ Berwin team was led by Jason Tann, assisted by Arshika Perry and a team led by Roger Wright of Freeth Cartwright advised the purchaser.

SJ Berwin has advised British Land on a long string of transactions dating back to the establishment of the practice. In the first quarter of 2008, SJ Berwin advised British Land on the sale of four Debenham’s department stores in Luton, Winchester, Hull and Staines and on the sale of Plantation Place South. This marked the final sale of the British Land Plantation Estate, after 1 Plantation Place was sold in 2006 for £527 million.  SJ Berwin also advised on the sale of 1 Plantation Place.

For further information please contact:

Jason Tann, Real Estate Associate on +44 (0)20 7111 2915, or by email jason.tann@sjberwin.com

Jodie Yates, Business Development Assistant on +44 (0)20 7111 5907, or by email jodie.yates@sjberwin.com            

Notes to Editors:

SJ Berwin LLP

• On 1 June 2005 SJ Berwin LLP, an English limited liability partnership, took over the business of the SJ Berwin general partnership.  SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Milan, Munich, Paris and Turin.
• SJ Berwin LLP was named ‘UK Firm of the Year’ at the Global Chambers Awards 2007 and Private Equity Team of the Year at the Financial News Legal Awards 2007. 
• SJ Berwin's Real Estate Division totals 150 staff  in London of which 23 are partners (3 of which are tax partners), and over 70 associates, encompassing the disciplines of Commercial Real Estate, Construction, Planning & Environment, Property Litigation, Real Estate Funds and Tax.  In addition there are 3 partners specialising in real estate in our Continental European offices.  There is an increasing emphasis on cross departmental activity with related areas of Banking and Corporate and also cross border / pan European real estate work, with our European offices.  The division acts for blue chip clients including British Land, Royal Bank of Scotland, the Hilton Group, Brixton plc, AXA, The Crown Estate, Marks & Spencer and Gazeley.
• The Real Estate Team was Legal Business Real Estate Team of the Year 2005.  It was also named "Real Estate Team of the Year" in the Lawyer Magazine Awards 2004, following its advice on the RBS/Canary Wharf transaction, the highest-value property investment transaction in the UK in 2004.  It was shortlisted Real Estate team of the Year in this year’s British Legal awards.
• Revenue from Real Estate represents approximately 21% of the firm's total revenue in London.