Foot Anstey advises Sidra Capital on £19m Grade A real estate acquisition

Our Islamic Finance team advised Saudi-based management firm Sidra Capital on a strategically aligned real estate acquisition worth £19m.

The 39,000 sq. ft. Grade A office building located in Brentwood, Essex, is fully let to Countryside plc, a FTSE 250 company, on an unbroken 15-year lease and is undergoing a comprehensive £8m refurbishment to transform the asset to a state-of-the-art, future-proofed HQ building with excellent environmental credentials.

Zahir Nayani, Partner, and Leena Payyappilly, Associate, at Foot Anstey advised Sidra's team throughout the acquisition.

Commenting on the transaction, Hani Baothman, Chairman at Sidra Capital says: “We are pleased to have completed the acquisition of this exceptional HQ building whose value is enhanced by the long let to a strong tenant in an attractive M25 location. This demonstrates not only our commitment to the UK market but also to our belief that modern fit-for-purpose office buildings in strong locations will remain attractive to both tenants and investors.

"The transaction confirms our commitment to providing investors with attractive high-yielding investment opportunities in global mature markets that fulfil their investment objectives and aspirations.”

Zahir Nayani, Partner in Foot Anstey's established Islamic Finance team, advised on all legal aspects in the acquisition from inception to completion of the deal. He commented: "Longer-term capital preservation and secure income have never been more important in the current investment climate and this deal demonstrates perfectly the enduring appeal of well-located office assets that boast excellent fundamentals."

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