A Coventry law firm has completed a £20 million property acquisition – the biggest single transaction in the company’s 112-year history.
Band Hatton acted for property investment company Drake Bideford in its purchase of the 95,000 sq ft Atlantic Village Retail Park in North Devonshire.
The deal for the site, which lists Asda, Cadbury and Edinburgh Woollen Mill among its 41 retail units, was completed after five months of negotiations.
The Jersey-based buyers plan to expand and invest in the site to create more outlets for businesses. Philip Costigan, partner and head of commercial property at Band Hatton, said his team had relished the opportunity to work on the deal.
“We’ve done various big multiple deals before, but in terms of an individual site, this has been the biggest and the most rewarding,” he said.
“We had a specialist team working on the deal – myself, Julie Calcott and Richard Morgan – and the acquisition went smoothly.
“Any deal of this size is challenging but it has gone well and is another important step for the firm. We continue to grow strongly and we hope to be involved with more deals of this size in the near future.”