London & Associated Properties PLC - Offices Sale - Halifax, Yorkshire

Date: 04 Aug 2008

Olswang has acted for London & Associated Properties PLC ("LAP") on the establishment of its £74 million joint venture with Bank of Scotland Corporate.

The joint venture, called Analytical Ventures Limited ("Analytical Ventures"), has been established to buy UK retail property investments. Set up this year, it has an initial life of five years and all cash and debt has been pre-committed. John Heller is the Chief Executive of LAP, which will manage the property investments of the venture.

Analytical Ventures has made its first purchase this month of Westgate House, a 92,000 sq ft retail and office scheme in Halifax, Yorkshire, for £10.5 million from UBS Triton Property Fund.

Corporate Partner Graham Barber led the Olswang team advising LAP on the joint venture. He was assisted by Corporate Associate Warwick Walsh and on Finance matters by Partners Moni Mannings and Eleni Skordaki with Associate Anne Blondel.

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