Burges Salmon has advised Principality Building Society on the sale of its estate agency business Peter Alan to the Connells Group for more than £16 million.

A cross-firm team, led by partner Rupert Weston and senior associate Tim Roberts, and comprising members of the firm’s Corporate, Commercial and Real Estate teams, advised Principality Building Society on the sale which concluded on Wednesday 30 July 2014.

Principality Building Society’s group chief executive, Graeme Yorston, noted that the profit generated from the deal would provide the society with further capital to boost its core business and provide it with "further investment opportunities".

Rupert Weston commented: “We are delighted to have advised our client Principality Building Society on what is a key strategic transaction for its business.”