International law firm Herbert Smith Freehills has advised Travis Perkins, the UK’s largest supplier to the building and construction industry, on the sale and leaseback of a £37.8 million portfolio of Wickes DIY units and a Travis Perkins trade unit with clients of Investra Capital. This is the second sale and leaseback deal the firm has acted on.
The ‘Dakota Portfolio’ comprised eight recently developed or refurbished units, completed by Travis Perkins Properties, in Bridgwater, Burgess Hill, Christchurch, Corby, Halifax, Midsomer Norton, Norwich and Stowmarket in the UK.
The HSF team was led by Of Counsel Emer O'Flynn, assisted by real estate partner Shelagh McKibbin and senior associates, Ching Fun Lee and Phoebe McLarty. They were supported by associate Charlie Croft.
Shelagh McKibbin commented: "We are delighted to have assisted Travis Perkins on another sale and leaseback portfolio. We were appointed to the Travis Perkins panel in 2014 and have since helped on the second sale and leaseback portfolio to support our client in their ongoing strategy".
Darren Screen, Finance Director at Travis Perkins, said: "We are very pleased with the service we have received from Emer and all the team at Herbert Smith Freehills. This transaction would not have succeeded without their efforts."
About Herbert Smith Freehills
Operating from over 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure, technology and financial services. www.herbertsmithfreehills.com
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