International law firm Gowling WLG has advised Barnet Council on the acquisition of Brent Cross South Retail Park from Hammerson & Aberdeen Standard Investments.
Brent Cross South Retail Park is a 94,000 sq. ft. shopping centre, housing retailers such as DFS, Sports Direct, Next, TK Maxx, and Natuzzi amongst others.
The site forms part of the Brent Cross Cricklewood regeneration programme, which is the biggest redevelopment and growth programme Barnet Council has ever undertaken. The development will see a new park town development ‘Brent Cross Town’ delivered in partnership between Argent Related and Barnet Council. Set around 50 acres of green parks and playing fields, Brent Cross Town will bring 6,700 new homes, commercial and retail spaces, arts and culture facilities, and improved schools and healthcare facilities to the area. The new Brent Cross West station will link the new town centre, and existing communities, to central London in 12 minutes.
The Gowling WLG cross-disciplinary legal advisory team comprised of Nick Mumby (real estate), Richard Beckingsale (real estate), Edmund Willis (real estate), Zoya Khan (real estate), Kate Cunningham (real estate), Cairo Nickolls (planning), Calum Groom (construction), Chris Nyland (tax) and Tom Rank (tax).
Councillor Daniel Thomas, Leader of Barnet Council, said: “We are pleased to have been successful in the acquisition of the Brent Cross South Retail Park which will help secure the future comprehensive regeneration of the area and allow us and our partners to deliver on the goals of the Brent Cross Cricklewood regeneration programme. The programme is transforming the area and will bring substantial and lasting social and economic benefits to the Council.”
Nick Mumby, partner at Gowling said: “The retail park is a key asset in the regeneration of the area and we are proud to have supported the Council as it pushes the project forward.”
Gowling WLG has one of the biggest dedicated development and regeneration teams in the UK and acts for a wide range of developers, funders and local authorities to deliver innovative and commercial solutions to often complex specifications quickly and efficiently. The deal is another example of the team's position in the real estate sector and follows a series of recent mandates, including advising Southend-on-Sea Borough Council on the acquisition of Victoria Shopping Centre and supporting on the wider £4 billion Brent Cross Cricklewood regeneration scheme since 2016.
Visit the Brent Cross Cricklewood programme website to find out more about the project.