Thames Valley partner leads Shoosmiths’ role in £305m car park portfolio sale

By Sam Pither

14 February 2023

Share

The Business Magazine article image for: Thames Valley partner leads Shoosmiths’ role in £305m car park portfolio sale

Law firm Shoosmiths has advised the seller on a £305 million sale of a nationwide car park portfolio.

The Shoosmiths team was led by Thames Valley real estate partner and co-head of the firm’s investment group, Nathan Rees, supported by principal associate Chris George and associate Kathryn Kinsey.

The law firm advised on all real estate aspects of the transaction, as GreenPoint Partners acquired 37 car parks around England, Wales and Scotland. The sites, which are primarily operated by NCP, comprise nearly 15,000 spaces.

The successful sale is the culmination of a decade-long involvement with the portfolio, which has seen Shoosmiths act on portfolio enhancement, individual and mini-portfolio sales, the disposal of a then larger 88-property portfolio in 2016, refinancing, as well as ongoing management matters.

During this time, Shoosmiths has provided strategic real estate advice to the owner, including acting on the restructuring of NCP’s leases across the portfolio.

Shoosmiths worked alongside Freshfields Bruckhaus Deringer, which advised on corporate and financing matters. Gowling WLG acted for the buyer.

Commenting on the deal, Nathan Rees, real estate partner and co-head of Shoosmiths’ investment group, said: “This was a complex, high-value portfolio sale involving assets located across the UK. It showcases Shoosmiths’ real estate investment expertise, as well as our ability to work as long-term strategic partners with clients and their other advisers, helping solve problems and secure successful outcomes.

“Our involvement spans nearly 10 years. We’ve worked at various stages to shape the portfolio and ensure it was in a position to be put on the market and sold; a process that required close collaboration, innovation and the support of our national real estate team.”

Featured image: iStock

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.