Sidra Capital completes acquisition of Countryside PLC HQ in Brentwood
Saudi-based investment management firm Sidra Capital has completed its acquisition of the freehold Countryside House HQ in the M25 submarket of Brentwood, UK. The transaction is valued at GBP19 million.
The acquired property is fully let to Countryside PLC, a FTSE 250 company, on an unbroken 15-year lease and is undergoing a comprehensive GBP8 million refurbishment to transform the property to a state-of-the-art, future-proofed HQ building with excellent environmental credentials.
The Grade A office building is located in an established southeast submarket and benefits from excellent transport links to Central London and the rest of the UK. The three floors of office space comprise 38,878 sq ft and the building provides 165 parking spaces, offering an excellent parking ratio of 1:1235 sq ft while enhancing an already extremely attractive working environment.
Commenting on the transaction, Hani Baothman, Chairman of Sidra Capital says: “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.”
Sidra Capital was advised by Gerald Eve, Foot Anstey, BDO and Gear MacKenzie.