Saudi asset manager acquires UK properties in £137.5m European real estate investment

By Bridging Loan Directory 9th October 2018

SEDCO Capital UK Limited today announces the conclusion of a European real estate investment of £137.5m (€156m / $179.9m) on behalf of its parent company SEDCO Capital, one of the largest asset managers in Saudi Arabia.

SEDCO Capital has acquired three properties across France and the UK as investments for its clients. SEDCO Capital UK Limited was involved in every aspect of the investment process.

The Saudi asset manager assisted in the purchase of an office building in the Levallois Perret suburb of Paris in September. The fully-let 9,800 square metre multi-let office building serves as the French headquarters to Italian energy company ENI and marks SEDCO Capital’s first investment in France.

In the UK, SEDCO Capital advised on the acquisition of two properties: a 25-acre distribution site in Yorkshire for £31.8m and a 4.7-acre office complex in Bracknell, Berkshire for £35.2m. The distribution site, which contains a warehouse covering 413,959 square feet, is wholly occupied by British infrastructure and support services company Eddie Stobart Limited. There are circa 17-years remaining on the lease. Vodafone leases Bracknell-based office Waterside House, covering 94,867 square feet, on a 30-year term with 20.9-years remaining.

Sherif Selim, Head of Global Real Estate, SEDCO Capital, said:

“We are delighted to add these three properties to our European real estate investment portfolio. Europe is an important region for SEDCO Capital’s long-term macro investment strategy and we strongly believe in both the French and UK markets to deliver attractive yields and sustained growth. The acquisition in Paris exemplifies our ability to secure promising new opportunities in a highly-competitive market.”

SEDCO Capital UK was advised by Roebuck Asset Management and Savills in the UK and Simmons & Simmons, Duhamel Blimbaum, C&C Notaires and Denjean in France.