Saudi-based Shariah-compliant financial services company Sidra Capital has acquired the prestigious Weston House office building in London’s High Holborn for £94 million ($121.4 million) it was announced on Sunday.
The 89,000 square-foot, seven-story property is in what is considered a prime business location near the UK headquarters of companies including Warner Bros. NBC-Universal, Amazon and Google.
To date, Sidra has invested in 17 real estate projects in the UK, including London’s Kinnaird House, as well as a number of residential developments.
“This acquisition adds to Sidra Capital’s other large London holdings and complements our aggressive acquisition programme of long income value accretive properties across the UK,” said Hani Baothman, vice chairman of Sidra Capital.
Baothman added that the acquisition brings Sidra Capital’s assets under management to over £600 million ($775 million), with activity this year alone exceeding £175 million ($226.1 million).
Sidra Capital opened its UK office in 2017, and has been active in the country since 2012.
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