Saudi investor acquires £137.5m portfolio

Vodafone Bracknell

Saudi Arabian sharia compliant asset manager Sedco Capital has completed the acquisition of a $179.9m (£137.5m) portfolio of three assets across the UK and France including the Vodafone-let Waterside House in Bracknell.

The UK arm of Sedco completed the deals on behalf of the Saudi investor, adding to the group’s $5bn global assets under management.

The two UK acquisitions comprised a 25-acre distribution site in Yorkshire for £31.8m and a 4.7-acre office complex in Bracknell for £35.2m alongside Palmer Capital. The distribution site contains a warehouse covering 413,959 sq ft wholly let to Eddie Stobart on a 17-year lease while Vodafone leases the 94,867 sq ft Waterside House on a lease with 20.9 years remaining.

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