Lionsgate, Corporate Acquisition

Sovereign Land acquired a substantial stake in the £450m Lionsgate Group, where Credit Suisse First Boston was the major shareholder, in 1999.
  • The group owned a portfolio of around 400 mixed commercial property assets including 3 shopping centres.
  • Sovereign Land spent the next three years restructuring the portfolio, actively managing each of the properties and investing new capital in improvements, leading to enhanced sale values.

Business Plan & Achievements

The portfolio included: The Chilterns in High Wycombe - an 82,000 sq ft shopping centre anchored by Marks & Spencer, Next, Country Casuals and Wilkinsons. It also included17,000 sq ft of offices let to an Abbey National subsidiary. The scheme was sold in 2001 to Chester Properties for £13m.

Rood Lane, London EC3 - an office scheme that included part of Dresdner Kleinwort Benson's headquarters. Sovereign Land sold the building to Land Securities in 2001.

Boscombe Cliffs - a residential scheme near Bournemouth. Sovereign Land set up a JV with Bellway Homes and obtained planning permission for 84 flats. The site was sold to a national house builder in 2000.