Gatehouse Bank Remains Busy in UK Real Estate

London based Gatehouse Bank has announced the acquisition of Fountainbridge, a student accommodation property located in Edinburgh, United Kingdom for £20.0 million.

The investment marks the continued development of Gatehouse’s activity in the UK student accommodation sector following the firm’s successful realisation of four investments comprising over 1,600 beds with a combined value in excess of £100 million, completed last year.

The UK investment bank specialises in Shariah-compliant products and services, and in April announced the completion of terms for financing of the Blakelands Industrial estate located in the Milton Keynes area of the UK.

Islamic Finance and UK Real Estate

Islamic finance investors are taking a keen interest in UK real estate by funding a number of high profile projects.

Europe’s tallest building, the Shard in London was financed by Qatari consortium that acquired an 80% stake for £150m (€192m), whilst nearby, in the prime central London real estate territory, a consortium comprising Qatari Diar Real Estate and Investment and the Candy brothers’ CPC Group bought the 5.2-hectare Chelsea Barracks site for £959m.

In 2012, a Malaysian consortium bought for £400m the 16.8-hectare Battersea Power Station site, which had been derelict for three decades. Work is now under way on a massive 3,444-home scheme that will create a new city district.