ADIB UK provides financial aid to acquire Centrica
Bank of London and the Middle East, BLME, received financial aid from (ADIB UK) Abu Dhabi Islamic Bank in the UK to acquire an AED120 million (GBP26.95 million) Grade A office building in Edinburgh, leased to Centrica as their corporate headquarters in Scotland until 2035
The building is a part of the Edinburgh Waterfront regeneration area, provides Grade with an accommodation over ground and three upper floors, extending to 94,214 sqft.
The building has won several design awards including the Scottish Design Award for Commercial Interior and the British Council for Offices National and Regional Awards for Commercial Workplace.
“This latest transaction is typical of demand we are seeing amongst our client base. Over the last 18 months, 70 per cent of our financing transactions have comprised regional investments, including Aberdeen, Bristol, Coventry, Leeds and Manchester,” Paul Mansfield, Head of UK Real Estate at ADIB UK, said.