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Trowers & Hamlins advises Gatehouse on Shari’ah compliant acquisition

Trowers & Hamlins advises Gatehouse on Shari'ah compliant acquisition of Adobe's EMEA headquarters in Maidenhead

Trowers & Hamlins LLP, the City and International law firm has advised established client Gatehouse Bank plc ("Gatehouse"), the City of London-based Shari'ah compliant wholesale investment bank, in relation to the £32 million acquisition of the newly constructed Market House in Maidenhead.

The property has been leased to Adobe Systems Europe as its EMEA headquarters. The acquisition was effected by way of a corporate purchase through the £100m Sterling UK Real Estate Fund ("SURF") established by Gatehouse and Sidra Capital, a Saudi-based CMA regulated Shari'ah compliant financial services company.

Tony Poole, Corporate Partner at Trowers & Hamlins LLP, commented: “We are delighted to have assisted SURF in successfully completing another Shari'ah compliant UK real estate acquisition. We look forward to working with Gatehouse and SURF on further transactions in the future.”

Trowers & Hamlins' highly experienced cross-departmental Islamic Finance team advised on this transaction which was structured and financed in a Shari'ah compliant manner.

The Trowers & Hamlins team was led by corporate partners Tony Poole and Nick Green assisted by Ayda Habboush. Commercial Property partner Jeremy Joiner advised on the property aspects and further specialist support was provided by the firm's banking, construction and tax departments.

Financing for the transaction on a Shari'ah-compliant basis was provided by Deutsche Pfandbriefbank AG, London Branch, who were advised by Olswang LLP.

The developer and seller, Shepherd Building Group, was advised by Pinsent Masons LLP.