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Funds: Mourant Ozannes and Semple Fraser advise on the acquisition by Land Securities of the Overgate shopping centre in Dundee

Mourant Ozannes' Kirsten Faichnie, together with Semple Fraser as Scottish legal counsel, advised on the Jersey legal aspects of the acquisition by Land Securities of the Overgate shopping centre in Dundee, held through a Jersey property unit trust. The shopping centre was acquired from the Lend Lease Overgate Partnership for £141 million, representing a yield of close to 6.9%. The transaction represented Land Securities’ largest single asset purchase in the retail property market since 2005. Land Securities is the largest commercial property company in the UK.

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