Deals Round-Up: DLA Piper and Ernst & Young advise on disposals

DLA Piper’s Manchester real estate team, has represented European property investor Wereldhave on the sale of nearly all its UK property portfolio in disposals worth £243m.

A portfolio of London properties was sold to British Land, including the Ealing Broadway Shopping Centre, and four retail and office properties located in Baker Street, Chiswick High Road, Putney High Street and Fulham Road.

Separately, the Dolphin and Towngate Shopping Centres in Poole were sold to Legal & General Assurance (Pensions Management).

Partner Mark Beardwood led the DLA team, which included partner Philip Rooney, corporate associate Edmund Chan and tax partner Mark Burgess. Other members of the team included legal director Richard Thompson, associate Sylvia Shepherd and solicitors Caroline Cockrell and Lauren Poole.

Mr Beardwood said: “This was a great team effort and resulted in contracts being exchanged on the same day with two different purchasers, which was remarkable given the extremely demanding timetable to which we were working.  

“Good working relationships were established with the lawyers acting for the purchasers which helped considerably.”

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A TEAM based at Ernst & Young’s Manchester office has advised on the sale of a Derby-based plastic piping specialist to a Russian group.

Polyplastic Group, Russia’s largest plastics producer has acquired Radius Systems, for an undisclosed sum.

Ken Williamson, mergers and acquisitions Partner at Ernst & Young in Manchester, led the deal.

He said: “I’m sure the future partnership between Polyplastic and Radius will be successful and clearly this represents a strong alignment between the two businesses which should provide future growth opportunities for both parties.”

Eversheds also advised Radius. Deloitte and CMS Cameron McKenna advised Polyplastic. The UK business units will continue to trade under the Radius Systems, Radius Plastics and Radius PLUS brands.