Foot Anstey continues successful relationship with Blacksand on Morrisons Distribution Centre deal in Glasgow

National law firm Foot Anstey continues to strengthen its relationship with client Blacksand Company B.S.C., advising on the acquisition of the Morrisons Distribution Centre in Bellshill, Glasgow. The transaction marks the firm's second deal for Blacksand in Scotland and its first within the logistics sector.

The acquisition follows a period of significant deal activity for Blacksand over the past 18 months, including the purchase of 110 Cannon Street in London and the sale of Leazes Terrace in Newcastle upon Tyne, both of which Foot Anstey's Islamic Finance team also advised on. The Bahrain-based real estate investment firm remains focused on expanding its UK real estate portfolio with high-quality, income-generating assets.

The Glasgow Regional Distribution Centre comprises approximately 620,090 sq ft of warehouse and distribution space and forms a critical part of Morrisons' national supply chain network. The property is fully let to WM Morrisons Supermarkets Limited on a long-term lease.

Foot Anstey advised on all aspects of the transaction, drawing on expertise across its Islamic Finance, Corporate, Tax and Real Estate teams. The team was led by Partner Imam Qazi and Principal Directors Lingxi Wang and Kieran van Bussel, alongside Managing Associate Vicki Jehu, Senior Associate Kirsty Poulton, Associate Gertruda Narkeviciute and Paralegal Saud Tolefat.

Mohamed Al Raee, Chief Investor Relations Officer of Blacksand, commented 'This acquisition represents an important milestone for Blacksand's investment in the UK logistics sector. The asset combines a highly strategic location, long-term income security, inflation-linked rental growth, and a strong covenant through one of the UK's leading food retailers. This investment reflects our continued focus on acquiring institutional-quality assets that generate resilient income streams and deliver sustainable long-term value for our investors.'

Imam Qazi, Partner and Head of Islamic Finance at Foot Anstey, said 'This acquisition builds on our strong relationship with Blacksand and demonstrates the appeal of the UK's logistics sector for investors.'

Kieran van Bussel, Principal Director at Foot Anstey, said 'Our Corporate and Real estate teams continue to grow our expertise in delivering high value real estate investments made via corporate structures, particularly where transactions involve complex ownership arrangements. This instance showcases the strength of our Corporate and Real Estate offerings and the benefits of a collaborative approach.'

The acquisition underscores the evergreen appeal of logistics and warehousing assets, which continue to play a vital role in the UK's property investment market. To learn more about Foot Anstey's Islamic Finance practice and its experience advising on Shariah-compliant real estate and investment transactions, contact our Islamic Finance team.