Coca-Cola HQ sold to Saudi investment firm

By Stephen Emerson

17 January 2022

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Coca Cola Enterprises UK and European headquarters in Uxbridge.

The headquarters of Coca-Cola Europacific Partners has been sold to sold to Sidra Capital.

The Saudi Arabian investment firm bought the company's Uxbridge hub for a total of £43,650,000 and will lease the 122,000 square foot premises back to drinks giant for a minimum period of 6.5 years.

The rental income will deliver a seven per cent net initial yield for Sidra Capital.

Sidra Chairman Hani Baothman commented “We are delighted to have completed this value-add investment which complements our diverse UK portfolio that has been assembled over a number of years. While at present the asset is fully leased as an international HQ, given its location, the high quality office space and massing potential the building presents optionality to adapt as market conditions evolve.”

Acquisition finance was provided by the National Bank of Kuwait.

Foot Anstey's legal team supported Sidra on the real estate, banking and Islamic Finance elements of the transaction by working alongside the Sidra deal team to complete the acquisition.

Lingxi Wang, Senior Associate at Foot Anstey, said: "We are extremely proud to have worked with Sidra on this acquisition, and look forward to continuing to work alongside them and further demonstrate the ongoing demand for resilient, well-located real estate assets which demonstrate excellent fundamentals."

Sidra Capital was also advised on the purchase by ACRE, Gerald Eve and Gear MacKenzie.

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.