Sidra Capital acquired Bower Stockley Holdings Ltd and Rockspring UK Value 2 Stockley (Jersey) Ltd for £74m. The target entities and their subsidiaries own a commercial property known as The Bower in Stockley Park, West London. The property, occupied by Canon Europe, covers 151,000 sqft and is located 3.5 miles north of Heathrow Airport and close to the M4 motorway. The lease with Canon Europe is for 10.5-year lease with a break at 5.5 years. The property was originally acquired in 2015 and refurbished into a grade-A office with BREEAM Excellent rating and an EPC A rating.
Sidra Capital was founded in 2009 and headquartered in Jeddah, Saudi Arabia – with offices in Riyadh, London, Dubai and soon in Singapore. Sidra Capital is a shariah compliant asset manager that focuses on alternative asset classes mainly global income generating real estate, private finance and private equity.
BDO provided financial and tax due diligence and SPA review services on the acquisition.