RMB ACQUIRES PORTFOLIO OF UK M&S STORES ON BEHALF OF LEADING QATARI FINANCIAL INSTITUTION
3rd August 2017
Rosette Merchant Bank led the acquisition of the five property portfolio for a consideration in excess of £50 million. All five of the properties within the portfolio are leased to Marks & Spencer Plc until March 2027 and benefit from annual fixed rental uplifts. The five locations are all regarded as well performing stores for M&S and are outside of the recently announced estate review programme.
Sam Broadhead, acting CEO of Rosette, said “We are pleased to have completed this significant transaction which was the first in the UK for our Qatari partners. It is testament to the tenacity and diligence of the Rosette investment team and all professional advisors involved that we were able to conclude this acquisition given the complexity of the structure involving multiple jurisdictions and both Islamic and conventional finance. This is exactly what Rosette does; our clients are our partners and we serve to give them a presence in the UK and European markets that they would not otherwise have”.
Rosette was advised by Montague Evans.