Jersey firm advises on acquisition of major shopping destination Liverpool ONE

Friday 10 January 2025

A local corporate law firm has advised one of Europe's largest commercial property companies on the acquisition of one of Britain's most popular retail sites, Liverpool ONE.

Edward Scott and Co has helped commercial giants Landsec to acquire a 92% stake in Liverpool’s leading retail destination, from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) (69%) and Grosvenor (23%).

The ADIA interest was acquired via units in two Jersey Property Unit Trusts, and the Liverpool ONE acquisition is part of Landsec’s ongoing strategy to invest in major retail.

Opened in 2008, Liverpool ONE is one of the UK's best-performing retail destinations, offering a mix of British and international retail, food, beverage, and leisure brands that attract a footfall of 22 million people every year.

Landsec's acquisition increases their lead as one of Europe's largest commercial property companies, with a portfolio valued at an estimated £10 billion as of March last year.

The work was a milestone for Edward Scott and Co, which was founded in 2020, and aligns with much of the practice’s work involving UK real estate that is held by Jersey vehicles.

Mr Scott himself advised Landsec on the move alongside Christa Cuthbert and DAC Beachcroft, who advised Landsec on English law.

Mr Scott commented: “We like working on transactions with Jersey Property Unit Trusts and local companies, and it was a real pleasure to work with Landsec and the wider team on this significant acquisition.”