Gulf-based investor snaps up Nottingham property in £5m deal
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Bank of London and The Middle East (BLME) has provided £8.3m in financing to fund the purchase of two commercial properties in Rotherham and Nottingham.
The buyers of both properties are based in the Gulf.
In Nottingham, BLME has provided £5m for the Fiera Real Estate fund, an open-ended real estate fund run in partnership between Fiera Real Estate UK and Darin Partners, to buy a property making up the flagship dealership for BMW in Nottingham.
In Rotherham, a £3.3m commercial investment facility provided to a Gulf-based investor will finance the purchase of a property that is currently rented to the Royal Mail. The property, sitting on a large site of approximately 4.2 acres, provides a purpose-built office building/call centre, with accommodation arranged over ground and two upper floors. The ground floor provides a number of open plan and private office areas, a large canteen and commercial kitchen, a gymnasium and private meeting rooms.
Sam Dickinson, associate director, Real Estate Finance at the BLME, said: “It’s a huge show of confidence in the UK real estate market that both these new deals have the backing of GCC-based investors. With both clients looking to secure stable, long-term income from these investments, it’s clear the UK market is viewed favourably by international investors.
“Deals like this are strategically important for BLME as we seek more to generate more opportunities in the real estate market in regions across the UK and to help boost to the sector as the country bounces back from the COVID-19 restrictions of the past 18 months.”