- Rasmala acquires Tesco supermarket asset for GBP28.6m (US$40m)
- Acquisition part of GBP1 billion (US$1.4 billion) UK investment programme
- Focus on logistics, living strategies, healthcare and life sciences.
The Rasmala Group announced the acquisition of a TESCO Superstore (“Asset”) located in Hattersley, Manchester for GBP 28.6m (US$40m).
Developed in 2012, the Asset comprises a modern 100,365 sq ft net sales area supermarket with a dedicated customer car park and a petrol station.
The Asset is being acquired by the Rasmala Long Income Fund with an unexpired lease term of 15.8 years and will be financed via a GBP 17.1m Sharia-compliant debt facility provided by Abu Dhabi Islamic Bank.
The Rasmala Group has invested over GBP 530m ($750m) in UK real estate, private equity, financial services and tech, in partnership with Gulf investors with plans to invest a further GBP1 billion.
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UNITED ARAB EMIRTATES / MANCHESTER, U.K.