Brian Hutcheson

This marks Praxis’s first significant balance sheet investment in the retail sector in eight years and underscores growing investor confidence in strategic city centre assets.

The 12-acre site comprises over 830,000 sq ft of retail and leisure space. Following a £55 million extension programme, the centre now accommodates around 100 occupiers, including flagship stores from Next and the soon-to-open 25,000 sq ft outlet from Japanese fashion retailer Uniqlo. Other major brands include Boots, Hamleys, and HMV.

A cross-practice Dentons team advised Praxis on the real estate, corporate, tax, funding, construction and planning aspects of the purchase.

Real estate partner Brian Hutcheson said: “We’re delighted to support Praxis on this landmark acquisition. This significant retail transaction reflects both the shifting retail landscape and our firm’s ability to advise on complex, high-value real estate deals across multiple disciplines.”