Business Services

Middle Eastern investors still hot for UK property

Middle Eastern Investors, UK Still Hot for Property Investors - SantanderCB

90 North has completed two UK deals totalling £65m on behalf of Middle Eastern clients, as it reports growing demand from private investors in the region despite concerns over the oil price collapse. The specialist in Shariah-compliant real estate investment has acquired a Morrisons and Travelodge developed by Land Securities in 2014 in Crawley for £42.5m at a blended yield of 5.75%. The property was bought with debt financing from Deutsche Pfandbriefbank. In the other deal, the firm bought the Riverside East office building in Sheffield for £23.4m from Caudwell Properties, with financing from Santander, at a yield of 6.75%. It is let to UK law firm Irwin Mitchell until 2027. 90 North worked with Kuwait advisers Arzan Wealth and Saudi Arabia-based Sidra Capital to source the capital for the deals.


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