News | By practice area

Wednesday 16th January 2002

SJ Berwin have acted on a number of transactions on behalf of the Equiton Industrial Partnership in the latter part of last year.

In July last year Brixton sold the majority of its stake in the Equiton Industrial Partnership ("Equiton") to the Prudential leaving Prudential and Equitable equal shareholders at 45.6% each with Brixton owning a residual 8.8%. Brixton retained its role as manager of the Fund.

SJ Berwin have acted on behalf of Brixton in connection with a £90m syndicated facility from HSBC for a five-year period secured on the assets of Equiton. Banking partner, Gillian Smith, with property partner, Jon Vivian, and Helen Sills of SJ Berwin acted for Brixton. Simon Roberts, Lesley Wan and David Williams of Allen & Overy acted for HSBC.

In a series of year-end deals, Equiton purchased 3 more estates for its Fund.

Firstly, Mount Works Industrial Estate, Mount Road, Hanworth, for £7.08m from Shell Pensions Trust Limited comprising of 13 units. Jon Vivian and Joanne Footitt of SJ Berwin acted for Equiton and David Mills of Field Fisher Waterhouse acted for Shell.

Secondly, the purchase of Falcon Park, Neasden Lane, London NW10 for £9.6m. Property partner, Jon Vivian, and Darren Rogers of SJ Berwin acted for Equiton and David Timms of Allen & Overy acted for Schroders.

Thirdly, the purchase of Maxted Corner, Hemel Hempstead from the trustees of the Kodak Pension Plan at a purchase price of £4.7m. Property partner, Kathryn Almond, together with Helen Sills of SJ Berwin acted for Equiton with Alexander Lethbridge of Bristows acting for Kodak.

Equiton's is aggressively acquiring industrial estates which are suitable for its fund.

• Jon Vivian joined SJ Berwin as a partner in the Property Department in 2001. He has extensive experience on a wide range of commercial property matters, particularly in the industrial retail and office markets.
• Jon has acted on a number of large portfolio transactions.