Travers and Linklaters lead the way on £1.6bn shopping centre sale

Travers Smith and Linklaters have bagged roles advising on the £1.6bn sale of the Trafford Centre.

Travers advised long-standing client Peel Holdings, which sold the Trafford Centre to Capital Shopping Centres Group (CSC) for £1.6bn. The deal was announced last month (25 November) and is set to close by the end of the year.

The Travers team was led by corporate finance partners Richard Skelton and Anthony Foster with additional advice provided by partner Julian Bass and Richard Stratton on real estate and tax matters respectively.

Meanwhile Addleshaw Goddard and Stephenson Harwood acted alongside Travers providing advice on planning and construction matters relating to the 1.9m sq ft centre at Barton, which was opened in 1999.

Linklaters corporate partner William Buckley led a team advising CSC on the purchase through a mixture of shares and convertible bonds. Following the deal, Peel will become a minority stakeholder in CSC.

CSC owns 13 shopping centres, including the Arndale in Manchester, Metrocentre in Gateshead and Lakeside in Essex.

The deal has been cited as one of the largest single asset real estate M&A deals to be carried out on the UK.