Sidra Capital, the Saudi Arabia-based investment firm, has bought an office building in the United Kingdom for $26 million.
The Countryside House HQ in Brentwood is a Grade A commercial property that has been fully let to Countryside PLC, an FTSE 250 company, and is undergoing a comprehensive £8 million refurbishment.
“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,” said Hani Baothman, chairman of Sidra Capital.
“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.”
Investors from the Middle East have returned to the UK’s property market after restrictions related to COVID-19 started to ease.
Buyers from the region accounted for 16 percent of the UK’s international sales in the first three months of 2021, up from less than 10 percent in the second and third quarters of 2020, according to real estate consultancy Knight Frank.