Posted: 01/07/2011
Penningtons' London based property investors team has acted for Aviva Investors Pensions Limited (AIPL) in relation to its acquisition of a recently completed development in Welling, Kent.
The development consists of a 72,000 sq ft Tesco supermarket and 64 residential flats let on a long lease to a housing association. Hunters acted for the selling developer, Retail Development Partnership.
James Nadin, assisted by James McNeilly and Katherine Matheson, led the team and advised on all property-related aspects of the site acquisition. Peter Jansen, assisted by Rachael Scarfe, advised on construction issues. Sarah Cardew advised on matters relating to VAT and capital allowances.
The property investors team has an established relationship with AIPL in relation to sales, acquisitions and development funding projects, as well as ongoing asset management.
The team's specialists provide comprehensive and wide-ranging advice to a variety of institutional and private clients in relation to a broad spectrum of property-related matters.
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