FFW advises UK’s largest nightclub operator on major property deal
29 January 2007
Field Fisher Waterhouse LLP (FFW) has advised the UK’s largest
operator of licensed late-night venues, Luminar Leisure on the sale
and leaseback of 20 properties, worth £76.8 million.
The sale and leaseback was linked to the sale by Luminar of its
Entertainment Division, comprising the Chicago Rock and Jumpin Jaks
businesses together with 31 other non-branded outlets to a newly
created company in which Luminar, Prestbury Group and the
Entertainment Group’s existing management all hold an equity
stake.
The FFW team was led by Real Estate partner
Paul Houston,
assisted by partners Ramatu Banga, Jayne Elkins and Jasper
Hunt. Berwin Leighton Paisner LLP advised Luminar on the corporate
aspects of the transaction and Prestbury was advised by Taylor
Wessing.
This latest deal demonstrates the strength of FFW Real Estate’s
Group and its expertise in the hotel and leisure
sector. It follows on from FFW advising leading property
developer Manhattan Loft Corporation (MLC) on a £100 million
mixed-use development, which includes a 244 bed five-star hotel, at
King’s Cross St Pancras.
Paul Houston
said: “Luminar have been a client of FFW’s for many years and we
are delighted to have advised the company on this major strategic
deal.”
For further press information please contact:
Louise Eckersley, PR Manager on +44 (0)20 7861 4120