Sidra Capital, headquartered in Jeddah, has declared the fruitful completion of its acquisition of a free from hold Countryside House HQ in Brentwood, UK. This acquisition is worth GBP 19 million (USD 26.36 million).
Sidra Capital‘s acquisition of the Countryside House HQ property
The acquired property has been leased to Countryside PLC, an FTSE 250 listed company, for 15 years. The said property is experiencing an all-inclusive GBP 8 million (USD 11.09 million) renovation to transmute the property into a futuristic HQ building with over-the-top ecological credentials.
The Countryside House HQ is situated in a recognized market that profits from exceptional transport relations to London and the whole of the United Kingdom. The building is inclusive of a three-story office enclosure which encompasses a 38,878 square feet area. The building is etched with 165 units of parking space which serves an exceptional parking ratio of 1:1235 square feet.
Hani Baothman, Chairman of Sidra Capital, expressed his pleasure owing to the completion of the HQ building’s acquisition. The property’s value is heightened by the lease to a worthy tenant in the London Orbital Motorway location.
The acquisition reinforces Sidra Capital’s strategy in the domain of real estate investment in the United Kingdom. The UK market is sustained by its outlook of economic progression and transformed investor sentimentality, as the UK GDP yields to pre-pandemic levels.
The UK property market is witnessing a return of investors from the Middle East after pandemic restrictions in the country started to cease.
According to Knight Frank, a real estate consultancy, property purchasers in the region contributed 16% of the United Kingdom’s international sales in the primary 3 months of this year. This estimated value is higher than the less than 10% value in the second and third quarters of 2020.