BLP secures another three-year appointment as Tesco's lead property adviser

Tesco-retail-shop

Berwin Leighton Paisner (BLP) has secured another three-year appointment as Tesco’s lead property adviser.

The appointment comes three years after the retailer opted to drop Ashurst as its main real estate adviser in 2014, in favour of BLP. At the time, Tesco cited BLP’s then newly opened Manchester base as a factor in its decision.

BLP’s real estate practice, which is led by Chris de Pury, has enjoyed a number of other recent successes, including securing an advisory role on the sale of the Leadenhall Building – also known as the Cheesegrater. BLP acted for CC Land, the purchaser of the building.

This January, the firm also won a sole adviser mandate for the Crown Estate’s newly created £7bn central London portfolio, which comprises all of the Crown’s real estate in St James’s and Regent Street.

Freshfields Bruckhaus Deringer is Tesco’s go-to firm for corporate and commercial matters and has recently advised on big M&A mandates such as the £3.7bn acquisition of Booker earlier this year. The magic circle firm also recently acted on its agreement with the Serious Fraud Office to pay a £129m fine to avoid prosecution for overstating its profits in 2014.

Tesco declined to comment.