The financial services company Sidra Capital has acquired significant retail assets in Glasgow.
Both of these assets are leased to British retailers. With this investment, Sida Capital had two highly profitable commercial properties. Sidra Capital’s presence in the park has enabled it to combine existing tenants with the addition of retail brands Sainsbury and Home Pets. The parties did not announce the price.
The purchased assets are close to the most popular retail and entertainment destinations in Gloskow. This shot boosted Sidra’s presence in many retailers and tenants and the Great Western Retail Park, a 200.628ft² modern retail warehouse in an area of 20.2 acres leased to F & B operators such as McDonald’s, Starbucks, B & Q, and Currys PCs.
“Our latest core-plus investment gives further balance to our growing U.K. portfolio. We view this as a stable, defensive asset with committed, existing tenants and these factors will provide an attractive high yield,” said Hani Baothman, Vice Chairman of Sidra Capital. “Despite Brexit in Europe and macro-economic uncertainty, we remain committed to a U.K. market which continues to provide attractive investment opportunities. Sterling as a currency offers attractive investment opportunities, and by adopting a long-term U.K. investment strategy we are fully confident we can deal with any short term, Brexit-related issues.”
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