Bank of Ireland Private Banking has acquired a 50% interest in Liverpool's New Mersey Shopping Park from Hercules Unit Trust (HUT) for £209 mln (EUR 310 mln). The shopping park has 45,000 m[sup]2[/sup] of space and is the seventh largest facility of its kind in the UK. HUT is a closed-ended Jersey property unit trust which invests in properties in large shopping parks in the UK. British Land owns 36.3% in HUT since March this year and is also property adviser to the unit trust through its subsidiary British Land Property Advisers.

Bank of Ireland Private Banking has acquired a 50% interest in Liverpool's New Mersey Shopping Park from Hercules Unit Trust (HUT) for £209 mln (EUR 310 mln). The shopping park has 45,000 m2 of space and is the seventh largest facility of its kind in the UK. HUT is a closed-ended Jersey property unit trust which invests in properties in large shopping parks in the UK. British Land owns 36.3% in HUT since March this year and is also property adviser to the unit trust through its subsidiary British Land Property Advisers.

Back in 2001, HUT acquired New Mersey Shopping Park for £125 mln (EUR 185 mln) and undertook an extensive remodelling of the property. HUT is retaining a 50% interest in the park. British Land Property Advisers and Schroders will continue to asset manage the property on behalf of both the bank and HUT. Bank of Ireland Private Banking was advised by Morgan Williams. HUT was advised by Wilkinson Williams.