Bahrain-based GFH Financial Group on Wednesday announced that it has acquired Westside Office Business Park in Hemel Hempstead, England.
Located just north of London, the complex comprises four Class A office buildings with approximately 200,000 sq ft of office space.
GFH said that upon acquisition, the property was 96 percent occupied by tenants ranging across various industries.
GFH, along with its clients, said it will invest throughout the holding period up to £39.2 million with GFH holding up to 5 percent of the transaction.
It added that the investment is expected to provide attractive returns over the investment period given the exchange rate of the pound sterling at the time of the acquisition.
Hisham Alrayes, CEO of GFH Financial Group, said: “We are pleased to announce this investment in the UK real estate market in line with our focus on building a strong, income yielding real estate portfolio in well performing markets such as the UK and US.
"Westside’s prime location, high quality offering and strong tenant mix provide for a sound investment opportunity for GFH and our investors at a time where the British pound is at attractive levels.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.