BLP advises Tesco on the sale of Spenhill sites to Meyer Bergman for £250m
International law firm Berwin Leighton Paisner (BLP) has advised Tesco on the sale of fourteen development sites across London, the South East and Bath for £250m.
Spenhill, Tesco’s property development subsidiary, sold the sites, suitable for mixed-use and residential development, to a fund and clients advised by Meyer Bergman. Completion has been reached on eleven sites, with the remaining sites to be completed in due course.
Real estate partner Justine Oldale led on the transaction, working closely with partner Sunita Chawla, associate director Iain Suttie and associate Lucy Fishman.
Dave Lewis, Tesco Chief Executive said: “Since announcing our decision to build fewer stores we have been working with Meyer Bergman to bring forward investment on our Spenhill sites. We are very pleased to have agreed a deal with Meyer Bergman that will bring forward significant investment for these local communities, including opportunities for residential development.”