Commercial law firm Bevan Brittan have advised West Oxfordshire District Council on the purchase of a shopping centre.
The deal sees the district council taking control of Marriotts Walk shopping precinct in Witney, as part of its plans to boost the town centre.
The 4.9 acre site was built in 2007 and includes 21 lettable business units along with a 590-space car park.
The council is the freehold owner of the precinct which was let on a long lease originally to Kandahar Real Estate and more recently a subsidiary of Deutsche Bank.
The purchase will provide the council with more control over the site and its development in line with wider plans to reinvigorate market towns in the region.
Rebecca Pendlebury, Partner with Bevan Brittan, led the legal team that advised West Oxfordshire District Council on the deal. She says: “Town centres in many market towns face challenges with empty units and West Oxfordshire District Council’s approach shows how local authorities can step in to help. As the council will not be driven by profits alone, it can be more flexible than a private owner and make decisions that will benefit the wider community.”
Bevan Brittan advised West Oxfordshire District Council on the full transaction, including real estate, construction, employment and intellectual property, drawing on the expertise of a 10 -strong team of lawyers.
Councillor Duncan Enright, Deputy Leader and Cabinet Member for Economic Development at West Oxfordshire District Council, says; “I would like to thank Bevan Brittan for their work on making this very important purchase for West Oxfordshire.
“In Witney we already have a brilliant town centre offer but by purchasing Marriotts Walk we can do more to boost the area. It provides us with an amazing opportunity to help support Witney town centre during what continues to be a very challenging period for local businesses.”
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