Saudi asset manager Sedco adds £137m of European property to portfolio

Jessica Clark
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Sedco has acquired an office leased by Vodafone in Bracknell (Source: Getty)

Saudi asset management firm Sedco has invested £137.5m in European property, including two sites in the UK.

The firm has acquired a £31.8m 25-acre distribution site in Yorkshire, which is occupied by Eddie Stobart, and a £35.2m office complex in Bracknell, Berkshire, which is currently leased by Vodafone.

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Sedco also made its first investment in the French property market as it acquired an office building in the Levallois Perret suburb of Paris.

Sedco head of global real estate Sherif Selim said: "We are delighted to add these three properties to our European real estate investment portfolio.

"Europe is an important region for Sedco Capital’s long-term macro investment strategy and we strongly believe in both the French and UK markets to deliver attractive yields and sustained growth.

"The acquisition in Paris exemplifies our ability to secure promising new opportunities in a highly-competitive market.”

Sedco Capital was advised by Roebuck Asset Management and Savills in the UK and Simmons & Simmons, Duhamel Blimbaum, C&C Notaires and Denjean in France.

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