Keystone Law advises on £54 million acquisition of a retail park shopping complex in Greater Manchester

A multi-disciplinary team of Keystone partners have advised Kuwait Business Town Real Estate Co (KBT) on its purchase of a retail park shopping complex located in Oldham, Greater Manchester, for £54 million.

The acquisition comprises a 149,000 sq ft Tesco Extra store and an accompanying retail parade.

The Keystone team advised KBT on all aspects of the deal including commercial property and corporate, as well as the Islamic finance component in relation to the senior debt facility provided by Abu Dhabi Islamic Bank for the acquisition.

The team was led by partner Manan Singh and supported by corporate partner David Bennett, commercial property partner Sheena Ray, Islamic finance partner Fara Mohammad, planning and environment partner Yohanna Weber, and construction partner Chidi Egbochue.

Commenting on the acquisition, Manan said: “It has been a pleasure advising KBT on their debut investment in the UK and I look forward to working with them on future acquisitions for their international portfolio.”