Acquisition of BAE Systems' Grange Road, Christchurch, office complex

Organization
Jade Merchant Bank
Sectors
Property & Real estate
Keywords
property kuwait banks banking
Published

Kuwaiti owned Jade Merchant Bank (“JMB”) is pleased to announce their latest UK real estate acquisition, the £29m BAE Systems office and R&D complex in Christchurch, Dorset

Kuwaiti owned Jade Merchant Bank (“JMB”) is pleased to announce their latest UK real estate acquisition, the £29m BAE Systems office and R&D complex in Christchurch, Dorset. The c. 150,000 sq ft property is a long-term home for defence company BAE Systems, who have a further 10 years remaining on their current lease.  The versatile property provides the tenant with both commercial office and R&D space.

BAE Systems delivers specialist systems engineering and software development activities at the Grange Road site, described by the tenant as, ‘Through life capabilities in design, development, integration and testing of secure networks and information systems.’

The senior team at JMB of Sam Broadhead, CEO, Amr Kenawy, Chief Business Development Officer, and Stuart Jarvis, Investment Director, are delighted to have concluded this transaction on behalf of a private UAE based family office.

Stuart Jarvis, Investment Director at Jade Merchant Bank, commented that, “We are delighted to have added this high quality asset to our investor’s portfolio, especially having navigated the operational complexities that Covid-19 has brought. The transaction exemplifies the team’s ability to source off-market, secure long-income investments even within the current uncertain market conditions.”

Senior finance was provided to the transaction in the form of an Islamic facility from Abu Dhabi Islamic Bank. The property was sold by Trinova Real Estate and Morood Investment Company. Advisors to the purchaser were BNP Paribas Real Estate, Mischon de Reya and Grant Thornton.

For Further information, please contact:
Amr Kenawy
Chief Business Development Officer
Jade Merchant Bank LLP
3rd Floor, 33 St. James’s Street, London SW1A 1HD
Mob: +44 (0)7947 185794 | Mob: +44 (0)7740 414044
Amr@jademb.co.uk
www.jademerchantbank.co.uk

Press release distributed by PressHalo on behalf of Jade Merchant Bank, on 4th December, 2020.