Kuits advises on sale of Jasper Square portfolio to REI plc25 Sep 2015
Manchester commercial law firm Kuits has advised Tunstall Properties 1 Limited and Tunstall Properties 2 Limited on the sale of its portfolio at the Jasper Square retail park in Stoke-on-Trent for a sum of £11m.
The Jasper Square retail park in Tunstall was built on the site of the former Wedgwood Alexandra pottery works and is home to big brands such as Matalan, Next and Argos.
It has now been sold to Real Estate Investors plc (REI plc), a publicly quoted property investment company with a portfolio of over £100 million in commercial and residential properties focused around Birmingham and the Midlands.
Kuits provided comprehensive commercial advice to the management team of Tunstall Properties 1 Limited and Tunstall Properties 2 Limited on the sale of this significant portfolio. The team was led by managing partner Steve Eccleston, supported by senior associate Paula Hamer and solicitor Lisa Donaghy.
Steve Eccleston commented: “We have been working with our client for a number of years and it is particularly satisfying for us, having first advised on the acquisition and development of its portfolio at Jasper Square, to now come full circle and act in its sale to REI plc.
“We are delighted that the commercial and legal advice we have provided over the years has helped our client to build the value of its portfolio, which is reflected in the considerable sum agreed with the buyer.”
Jonathan Brierley of Steadman Brierley acted as agent on the sale.