Client stories

Sidra Capital

Learn more about how we worked with Sidra Capital. Founded in 2009 and headquartered in Jeddah, Saudi Arabia, Sidra Capital is a shariah-complaint asset manager that focuses on alternative asset classes in real estate, private finance and equity.

Sidra's story

Sidra has offices in Dubai, London, Riyadh and Singapore and is licensed and regulated by the Saudi Arabian Capital Market Authority. Since its inception is has achieved consistent growth through its innovative ways of working and adapting to the market.

The projects

Our Islamic finance team advised Sidra Capital on a strategically aligned real estate acquisition of a Grade A office building in Brentwood, Essex worth £19m in 2021.

The team also supported Sidra Capital on the real estate acquisition of Coca Cola’s Uxbridge headquarters, worth £43.6m.

Our Islamic finance team has worked with Sidra Capital for a number of years and we were selected to act for Sidra owing to our strong relationship with their executive team.

The solution and results

Grade A office building in Brentwood, Essex

The 39,000 sq. ft. Grade A office building located in Brentwood, Essex, is fully let to Countryside plc, a FTSE 250 company, on an unbroken 15-year lease and is undergoing a comprehensive £8m refurbishment to transform the asset to a state-of-the-art, future-proofed HQ building with excellent environmental credentials.

Zahir Nayani, Partner, and Leena Payyappilly, Associate, advised Sidra Capital on all legal aspects of the acquisition and helped the transaction go ahead smoothly.

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Coca Cola HQ

Sidra Capital acquired Coca Cola’s Uxbridge HQ for £43.6m, a prime located, 122,000 sq. ft., office asset let to Coca-Cola Europacific Partners PLC and representing a 7% net initial yield.

The Foot Anstey team, which led on all legal advice for Sidra Capital, included Partners Imam Qazi and Zahir Nayani, Lingxi Wang, Senior Associate, and Ayah Snober, Associate.

The team supported Sidra Capital on the real estate and Islamic finance elements of the transaction by working alongside the Sidra UK deal team to complete the acquisition in a timely and collaborative manner.

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What was said?

This deal demonstrates perfectly the enduring appeal of well-located office assets that boast excellent fundamentals. Working with Sidra on this deal was a great experience for the team. We offered Sidra a range of bespoke legal solutions which enabled Sidra to acquire the Grade A office and continue its stake in the UK real estate market.

On the Brentwood project, Zahir Nayani, Partner at Foot Anstey

We are delighted to have completed this value-add investment, which complements our diverse UK portfolio that has been assembled over a number of years. While at present the asset is fully leased to an international organisation, given its location, the high-quality office space and massive potential, the building presents optionality to adapt as market conditions evolve.

On the Coca Cola project, Hani Baothman, Chairman at Sidra Capita

We are extremely proud to have worked with Sidra on this acquisition, and look forward to continuing to work alongside them and further demonstrate the ongoing demand for resilient, well-located real estate assets which demonstrate excellent fundamentals.

On the Coca Cola HQ project, Lingxi Wang, Senior Associate at Foot Anstey

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