Leading south east law firm TWM Solicitors has advised the shareholders of London & Surrey Property Holdings Ltd on its sale to Channel Islands Stock Exchange listed Glenstone Property.
The merger will give both parties a larger and more diverse portfolio. While Glenstone has mainly invested in retail, London & Surrey owns a range of commercial and residential properties, centred around the South East. The deal, which was funded with a combination of cash and shares, brings Glenstone’s total assets to £132m. Adam Smith, managing director of London & Surrey, said Glenstone’s tax efficient REIT status was a key reason why the deal was attractive to its investors.
The TWM Solicitors team was led by business law partner, Jamie Berry assisted by partners Daniel Jenking, Adrian Price and solicitor David Powell.