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Trowers & Hamlins advises Gatehouse on Shari’ah compliant acquisition of Atos Data Centre in Hampshi

Trowers & Hamlins advises Gatehouse on Shari'ah compliant acquisition of Atos Data Centre in Hampshire

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 £25.2 million acquisition of a strategic data centre in Andover, Hampshire. The property has been leased to a UK subsidiary of global technology firm, Atos. The acquisition, on behalf of Gulf-based clients of Gatehouse, was effected by way of a corporate purchase.

Tony Poole, Corporate Partner at Trowers & Hamlins LLP, commented: “We are delighted to have again acted for our established client Gatehouse in relation to another successful Shari'ah compliant UK real estate leveraged corporate acquisition. Despite the current economic climate, this acquisition shows there is still continuing interest amongst Gulf-based investors in investing in quality UK real estate assets which are able to deliver secure income returns. We look forward to working with Gatehouse on further transactions in the future.”

This is the eighth major UK property acquisition that Trowers & Hamlins experienced Islamic Finance team has advised Gatehouse on during the last 2 years, all of which have been structured and financed in a Shari'ah compliant manner which has resulted in the acquisition of a portfolio of recently-acquired UK real estate assets of more than £300 million.

The Trowers & Hamlins team was led by Corporate partner Tony Poole who was assisted by Nick Green and Ayda Habboush. Specialist expertise was provided by banking and finance partner Sarah Gooden, Tax partner Andrew Sneddon and Commercial Property partners Jeremy Joiner and Yvette Bryan.

Financing for the transaction on a Shari'ah-compliant basis was provided by Barclays Bank plc, who were advised by Berwin Leighton Paisner LLP.

The seller, Cadena, was advised by Speechly Bircham LLP.