Saudi asset manager SEDCO Capital has completed the £137.5m acquisition of three European properties, including two in the UK.
It bought a 413,959 sq ft distribution site in Yorkshire for £31.8m and the 94,867 sq ft Waterside House office building in Bracknell, Berkshire for £35.2m.
The distribution site is wholly occupied by Eddie Stobart with 17 years remaining on the lease. Vodafone occupies Waterside House on a 30-year lease with 20.9 years remaining.
Alongside these acquisitions, SEDCO entered the French market for the first time with the purchase of a fully let 105,000 sq ft office in the Levallois Perret suburb of Paris.
Sherif Selim, head of global real estate at SEDCO, said: “Europe is an important region for SEDCO Capital’s long-term macro investment strategy and we strongly believe in both the French and UK markets to deliver attractive yields and sustainable growth.”
Roebuck Asset Management and Savills advised SEDCO Capital in the UK.
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