January 5, 2022
Fiera Real Estate UK (“FRE UK”) together with SEDCO Capital is pleased to announce the sale of their 94,867 sq.ft data centre on Longshot Lane in Bracknell to Keppel DC REIT, a data centre REIT listed on the Singapore Exchange. The asset was sold for £57m.
The critical network infrastructure asset is long let to one of the world’s largest telecommunications companies on a 30-year FRI lease with a further 17.6 years unexpired.
The property is positioned within a large 4.7-acre site and comprises a data centre and Grade A office accommodation arranged over ground and first floors. The large scale of the site provides attractive long-term data centre redevelopment potential.
Bracknell is an established commercial centre in the Thames Valley, strategically located between the M4 and M40, and only 19 miles from Heathrow Airport. Bracknell mainline station is well connected, providing a regular direct service to London Waterloo in a fastest journey time of approximately 65 minutes.
The pandemic has increased the importance of data centres, and deals across the market have resulted in the last 18 months being the busiest period in data centre history. A move to more regionalisation of data centres will benefit locations such as Bracknell.
FRE UK has completed this sale on behalf of SEDCO Capital, the Saudi based investment group. The investment programme focusses on core investing across critical infrastructure, distribution and office assets. The latest sale is an endorsement of the partnership’s commitment to buying high quality assets with strong occupier appeal in resilient sectors of the market.
Rupert Sheldon, Head of Core REIM at FRE UK commented “We are delighted to have concluded the sale of this high performing asset which aligns well with the partnership’s investment parameters. We are acquisitive across our core mandates with capital available to deploy into properties that share similar characteristics.”
Aly Meghani, Head of SEDCO Capital International Real Estate commented “We partner with best in class managers who bring extensive local market knowledge and strong deal sourcing capabilities. Guided by our Prudent Ethical Investment approach, our team helps deliver strong risk-adjusted returns to our investors. This transaction is such an example and additive to our impressive international real estate track record. We congratulate FRE UK and everyone involved in making it a success.”
The vendor was advised by Knight Frank and Dentons whilst the purchaser was advised by BCLP.