Bank of London and The Middle East has provided a £21.7m refinancing facility against Central London events venue Tobacco Dock.
Tobacco Dock, in Wapping, E1, was built in 1812 and restored in 2012. It is now a multi-purpose Grade I listed commercial and entertainment complex.
The site offers both event and workspace and has hosted BAFTA, Gymshark and The AI Summit London.
Tobacco Dock is operated by Al Mubarakia, an investment vehicle owned by Fawzia Mubarak Al Hassawi, a Kuwaiti national who was named one of the Arab world’s most influential women by Forbes Magazine.
The transaction has reiterated the appeal of London real estate to high-net-worth Gulf Cooperation Council investors for wealth preservation.
BLME director of real estate finance James Procter said: “This transaction demonstrates the continued strong appetite for prime assets in central London among high-net-worth investors from the GCC region.
“As noted in our Built to Last thought leadership report, the UK provides investors with strong regulatory and legal protection, has longstanding international desirability, and is seen by investors from the Middle East as a stable market.
“As a state-of-the-art venue in a historic location, Tobacco Dock is seen as a prime asset with significant potential.”
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