Saudi Arabia-based Shari’ah-compliant financial services company, Sidra Capital, has acquired a large commercial property leased to two leading British retailers at Great Western Retail Park, Glasgow, a statement said.
"The long-term income-generating acquisition in Scotland allows Sidra Capital to consolidate its holding on the park by adding retail brands Sainsbury’s and Pets at Home to an existing line up of household name tenants," the statement added.
“Our latest core plus investment gives further balance to our growing UK portfolio. We view this as a stable, defensive asset with committed, existing tenants and these factors will provide an attractive high yield,” said Hani Baothman, vice chairman of Sidra Capital.
The prime property is currently let on long term leases to the UK’s second biggest supermarket chain Sainsbury’s Supermarkets Limited and the nation’s largest pet food supplier Pets at Home.
The purchase consolidates Sidra’s existing holding at Great Western Retail Park which provides 193,628 square feet of modern retail warehouse space on a 20.2 acre site, leased to a wide range of leading retail and tenants and food and beverage (F&B) operators including McDonald’s, Starbucks, B&Q, Currys PC World, KFC, Carpetright, Wren Kitchens and Mitchells & Butlers.
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