7 August 2006 – LAWFUEL – Press Release Service – Scottish Widows Investment Partnership and Henderson Global Investors, the joint managers of the Covent Garden Market Limited Partnership, have sold all the Fund’s assets to Capital and Counties for more than £420m. The assets comprise 31 properties totalling over 450,000 sq ft predominantly focused on the central Piazza. The properties include Covent Garden Market itself as well as the London Transport Museum and Jubilee Hall.
The Fund was established in July 2000 with the purchase of Covent Garden Market and substantially enlarged in April 2002. During this period the partnership has significantly redeveloped the area, including buildings in Henrietta Street, King Street, James Street and parts of the iconic Piazza making it one of London’s biggest tourist attractions. International law firm Freshfields Bruckhaus Deringer advised Scottish Widows and Henderson.
The Freshfields team has been led by real estate partner David Lewis since Scottish Widow’s original purchase in 2000. On this sale he was assisted by real estate senior associates Alexander Watt and Debora Henigan and real estate associates Vikki Banks, Eve Henshaw, Suvinder Seikham, Caroline Cox and Michael Reid. Corporate partner Mark Watterson assisted on Partnership matters.