Mishcon de Reya advises on the disposal of a slice of The Notting Hill Unit Trust
30 June 2015

Mishcon de Reya advises on the disposal of a slice of The Notting Hill Unit Trust

Mishcon de Reya advised the joint venture between The Pears Group and LaSalle Investment Management on the sale of The Notting Hill Estate to Frogmore for £215 million.

The Notting Hill Estate comprises primarily prime retail shops and restaurants along with office accommodation, a cinema and car parking spaces. Mishcon was instructed when Pears Group and LaSalle Investment Management bought the Estate from Land Securities and Delancey in 2010.

Jonathan Rose, Managing Director of The Pears Group, commented: "Kirpal Kaur and the Mishcon team have continually provided an excellent service over the last five years with the purchase, asset management and disposal of Notting Hill.

The Mishcon Corporate team was led by Corporate Partner Larry Nathan, with assistance from Corporate Solicitor Tom Phillips, The Real Estate team was led by Associate Kirpal Kaur and Solicitor Nicholas Kirby. Partner Jonathan Legg and Solicitor Sarah Howes advised on tax issues and Partner Nick Strutt and Solicitor Firyal Teemul advised on the banking side.

Nick Doffman, Head of Real Estate and Client Relationship Partner said: "it has been an enjoyable journey from acquisition, through management to eventual disposal. I am particularly proud of the way the Pears and Mishcon teams have worked so well together."

Larry Nathan commented: "We are delighted to have worked with Pears Group and their partner LaSalle on this transaction. The Pears Group are a longstanding client of the Firm and it is always exciting to advise on the sale of a structure that we set up some years ago. Sale of unit trusts can be challenging beasts to deal with, but we had the advantage of a great operational team on both sides.