Wragge & Co LLP's real estate investment specialists have advised Aviva Investors on the sale of the Mallard Road Retail Park to Orchard Street Investment Management for £25.5 million. Located in Bournemouth, the 123,000-square foot retail park includes retailers such as Homebase, BHS, PC World and Currys.

Partner Robert Caddick and associate Nisha Jassal led a team of real estate experts on the deal, including associate Melissa Reid and real estate tax associate Ben Tenannt. Nisha Jassal co-ordinated the team who worked closely with Valerie Hardy of Aviva's in-house legal services, head of UK retail funds Phillip Nell and assistant fund managers Phillip Owen and Richard King. Mills & Reeve advised Orchard.

Robert said: "This is an important transaction to our client and the market as a whole as it shows positive investment activity within the UK real estate sector. Our strong experience and expertise within the commercial investment arena ensured this deal completed smoothly and in under three weeks."

Philip Nell said: "This sale was part of our programme of planned strategic disposals. I am very pleased and grateful forwith the way Wragge & Co worked hard to ensure it happened within the agreed timescale. The team worked seamlessly with our own in-house team to achieve our goal."

Aviva Investors is the global asset management business of Aviva plc, the world's fifth largest insurance group. Operating in 15 countries across Asia Pacific, Europe, UK and North America, it delivers investment management solutions and services.

Orchard Street Investment Management LLP is a specialist commercial property investment manager focused on the UK market. With current assets under management totalling £1.6 billion, it advises institutional and high-net worth clients worldwide on investing in, and the active management of, UK property. It purchased Mallard Road Retail Park for its UK Special Situations Fund.

Wragge & Co's 70-lawyer Commercial Development and Investment team advises both UK and international investors on all types of real estate acquisitions, developments and disposals. One of the largest dedicated commercial development and investment practices in the UK, last month the team advised Arena Coventry (2006) Limited on the acquisition of The Isle of Capri Casino premises at Coventry's Ricoh Arena.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785, Amie Ryalls on +44 (0)121 685 2708 or Rebecca Mee on +44 (0)121 685 3819

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