Qatari financial firm snaps up £50m M&S portfolio

 
Shruti Tripathi Chopra
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The five stores are outside of M&S' store review conducted in November (Source: Getty)

An unnamed Qatari financial firm has snapped up a portfolio of UK-based Marks & Spencer stores worth £50m.

Rosette Merchant Bank, a London-based Sharia compliant merchant bank, led the acquisition of the property portfolio.

The five stores are outside of M&S' store review conducted last year and are leased to the retailer until March 2027.

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Amr Kenawy, chief business development officer of Rosette, said: "Investors from the Gulf Cooperation Council have been very active since the EU referendum and were not deterred by the outcome of the recent General Election. The relative weakness of the pound continues to add to the attractiveness of the UK commercial property market which is still considered to be one of the most liquid, well-regulated and transparent markets in the world."

Rosette was advised by Montague Evans.

Read more: Marks & Spencer clothing arm declines again

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