Saudi finance company Sidra has announced the acquisition of The Bower office building in Stockley Park, UK.
The building was acquired by the company for £73.75m (up to 7%) from Clearbell Property Partners 2 LB, a fund managed by Clearbell Capital LLP with industry leader Patrizia.Global Real Estate Assets, Okaz reports. newspaper.
Okaz explained that The Power Building reflects a new level of environmental, social and governance standards as it has become one of the best-known commercial spaces in the UK since its complete renovation, noting that it is currently leased to Canon Europe.
For his part, Hany Baatman, Chairman of the Board of Directors of Sidra Capital said: on environmental, social and governance standards, which include high-quality premium leased assets. Environmental, social and governance standards are at the heart of the investment strategy adopted by Sidra Capital. as evidenced by the many properties we have acquired that have received high ratings under the Building Research Corporation’s Environmental Assessment Model (BREEAM).
He continued: “The real estate assets in Sidra’s portfolio are equipped with electric heating systems, not gas, and they are based on photovoltaic technologies and the use of thermal energy from the land source. Sidra is committed to acquiring best-in-class assets that contribute to attracting profitable tenants. » to environmental, social and governance standards, and they work to continually raise these standards to maintain their loyalty.”
He added: “Our ability to close this deal in light of the current economic environment is a clear demonstration of our long-term commitment to the UK real estate market and our ability to provide investors with the confidence to complete sales transactions.” Sidra owns one of the largest real estate portfolios that the group is a part of. One of the main headquarters of the most important international brands in the UK including Hilton, Coca-Cola, Atkins, Countryside plc and Canon, which is now a partner tenant.
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