Foot Anstey advises Blacksand in strategic sale of Leazes Terrace to Newcastle United FC

National law firm Foot Anstey has successfully advised Blacksand Company B.S.C on the sale of Leazes Terrace in Newcastle upon Tyne to Newcastle United Football Club, marking a significant milestone in the firm’s longstanding relationship with the real estate investment company.

Foot Anstey supported the Bahrain-based investor on the deal, which represents the first strategic disposals undertaken on the client’s behalf.

Leazes Terrace is a Grade I listed building converted to a student accommodation (PBSA) asset comprising 315 units, ideally located adjacent to St. James’ Park. The property benefits from close proximity to Newcastle University, Northumbria University and the city centre, making it a highly attractive and well-positioned investment.

This latest milestone builds on a partnership that began nearly a decade ago. Foot Anstey has advised on the acquisition and asset management of UK assets as part of Blacksand’s growing property portfolio, with this sale indicating a key evolution in the maturity the portfolio.

Mohamed Jasim Alshaikh, Chief Executive Officer at Blacksand Company B.S.C, said 'The successful realisation of this investment underscores our ability to originate and execute on high-quality opportunities within resilient sectors.

'The UK PBSA market continues to benefit from compelling structural drivers, including sustained demand from both domestic and international students and a persistent supply-demand imbalance. We are pleased to have delivered a strong outcome for our investors and remain focused on deploying capital into similar opportunities across key UK university cities.'

Lingxi Wang, Principal Director at Foot Anstey, added 'This deal, which was first instructed over a year ago, represents our first strategic sales for Blacksand and highlights the strength of our long-standing relationship. From a market perspective, it also highlights the continued attractiveness and resilience of PBSA assets in the UK. We look forward to continuing to support Blacksand as they progress their investment journey.'

The Foot Anstey team included Principal Director Lingxi Wang, Senior Associate Leena Payyappilly and Paralegal Saud Tolefat.

Foot Anstey remains committed to supporting Blacksand as it continues to identify, realise and reinvest in high-quality opportunities across the UK real estate market.