The Islamic Finance team at national law firm, Foot Anstey LLP, has advised the Saudi based investment management firm Sidra Capital on a strategically aligned real estate acquisition worth £43.6m. This is the latest acquisition Foot Anstey's Islamic Finance team has advised Sidra on, having acted for the firm in 2021 on a real estate acquisition worth £19m.
In this latest deal, Sidra Capital has acquired Coca Cola Uxbridge Head Quarters for £43.6m, a prime located, 122,000 sq. ft., office asset let to Coca-Cola Europacific Partners PLC and representing a 7% net initial yield.
The Foot Anstey team, which led on all legal advice for Sidra Capital, included Partners Zahir Nayani and Imam Qazi, Lingxi Wang, Senior Associate, and Ayah Snober, Associate. The team supported Sidra on the real estate, banking and Islamic Finance elements of the transaction by working alongside the Sidra deal team to complete the acquisition.
Chairman at Sidra Capital, Hani Baothman, commented: “We are delighted to have completed this value-add investment, which complements our diverse UK portfolio that has been assembled over a number of years. While at present the asset is fully leased to an international organisation, given its location, the high-quality office space and massive potential, the building presents optionality to adapt as market conditions evolve.”
Lingxi Wang, Senior Associate at Foot Anstey, said: "We are extremely proud to have worked with Sidra on this acquisition, and look forward to continuing to work alongside them and further demonstrate the ongoing demand for resilient, well-located real estate assets which demonstrate excellent fundamentals."
Other advisory firms included:
Bedell Cristin: Jersey Counsel
CMS Cameron McKenna: Seller's solicitor
Watson Farley Williams: National Bank of Kuwait's solicitor
To find out more about Foot Anstey's services and sector specialisms please visit https://www.footanstey.com/ or get in touch with us here https://www.footanstey.com/contact/.