Sidra Capital, a Saudi Arabian alternative asset management firm, has confirmed its acquisition of London Square, a multi-tenant office building in Guildford. The purchase, which cost just over 40 million pounds was made from M&G Real Estate. The property covers 133,290 square feet, includes three buildings, and provides 313 parking spaces.

London Square is a value-add UK office property that generates income, offers an appealing current return, and has strong potential for internal rate of return (IRR). The property comprises three Grade A office buildings and a standalone nursery, all set within a beautiful 4.5-acre campus within walking distance of Guildford town center. Two of the office buildings have undergone extensive refurbishment, offering high-quality office spaces. The property is 81 percent leased to a strong tenant base, including top law firms Speechly’s and Clyde and Co., and service firms WSP, RSM, and Grenke.

The investment’s objective is to improve the asset’s quality to keep it appealing to tenants while producing a high cash yield for investors. The property also boasts excellent road and rail transport connections, easy access to the motorway network, Gatwick/Heathrow airports, and Central London — a 40-minute train journey.

Sidra Capital has a substantial UK portfolio and completed the acquisition of The Bower and a fund managed by Clearbell Capital for approximately 74 million pounds in October of the previous year.