Saudi’s Sidra Capital acquires The Bower Office in the UK

Saudi’s Sidra Capital acquires The Bower Office in the UK

Saudi Arabia - Sidra Capital announced the acquisition of The Bower office in Stockley Park, UK for £73.75m (circa 7% yield) from Clearbell Property Partners II LP (Clearbell) – a fund managed by Clearbell Capital LLP together with PATRIZIA – a leading partner for global investment in real assets.

The Bower has set a new ESG benchmark for one of the UK’s premier business parks following a complete refurbishment. The asset is currently entirely led and occupied by Canon Europe.

The sellers transformed the space into a Grade A office achieving a BREEAM rating of “Excellent” and EPC “A”, making its ESG credentials one of the best in the South East and Sidra’s UK portfolio.

Commenting on the acquisition, Hani Baothman, Chairman of Sidra Capital said: “We are delighted to have acquired Canon’s HQ in Stockley Park UK, the Property complements our ESG strategy and our portfolio of quality assets leased to quality tenants. ESG has been a core theme of Sidra’s investment thesis as evidenced by the numerous BREEAM-rated properties it has curated."

He added: “Sidra’s portfolio includes Electric heating rather than Gas reliance, Photovoltaic technology, and the harnessing of ground source heat energy. Sidra’s commitment to acquiring best-in -class assets is rewarded