Law firm Foot Anstey’s Bristol-based Islamic finance team has advised a Saudi-based management firm on its acquisition of an office block worth £19m.
The 39,000 sq ft Grade A building in Brentwood, Essex, was bought by Sidra Capital, with Foot Anstey working on the deal from inception to completion. 
The office is fully let to FTSE 250 housebuilding and urban regeneration company Countryside on an unbroken 15-year lease.
It is undergoing a comprehensive £8m refurbishment to transform it into a state-of-the-art, future-proofed HQ building with excellent environmental credentials.
Sidra Capital chairman Hani Baothman said: “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.”
Foot Anstey partner Zahir Nayani and associate Leena Payyappilly advised Sidra’s team.
Zahir said: “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.”
Foot Anstey. also has offices in Exeter, London, Plymouth, Southampton, Taunton and Truro. Islamic finance is one of its seven key sectors along with development, energy & infrastructure, private equity, private wealth, retail & consumer.
Pictured, below: Foot Anstey partner Zahir Nayani and associate Leena Payyappilly
