UK: Wragge & Co Acts for James Beattie PLC on £3 Million Property Disposal
Last Updated: 23 April 2004

Wragge & Co LLP Real Estate has advised UK department store James Beattie PLC on a £3 million property disposal. The retailer, which has a full listing on the Stock Exchange, has sold an area of land in Wolverhampton, which will form part of a redevelopment scheme. The revenue generated from the sale will allow Beatties to re-invest in staff car parking in the new scheme and acquire new warehouse facilities within the city.

Real estate and commercial development associate Tim Coplestone led the Wragge & Co team with senior solicitor Victoria Potterill-Tilney and property finance associate Robin Pearson.

Tim Coplestone said: "Beatties is a dynamic company who we have helped on many occasions in the past. We have worked with them throughout a sustained period of growth and it was a pleasure to help with this latest development."

The firm has a longstanding relationship with Beatties. Previous work includes advising on the acquisition of stores in Huddersfield and Birmingham, where the company opened its doors in September 2003 following a £7.5 million refurbishment of a vacated C&A store.

Retailer Beattie has expanded considerably from its humble beginnings in 1877 as a draper’s shop in Wolverhampton. It now boasts 750,000 sq ft shopping space in 12 department stores across the UK and a turnover of £142 million.

Graeme Taylor of Clyde & Co acted for TT Electronics and TTG Properties Limited in relation to the reinvestment in warehousing.

To find out more about Wragge & Co's:

Commercial Development team click here;

Construction & Engineering team click here.

This press release may contain information of general interest about current legal issues, but does not give legal advice.

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