London and Dubai, 16 May 2016: Rasmala (‘Rasmala’ or ‘the Group’), the independent investment management group, today announced that it has acquired Abbvie House, a 55,958 sq. ft. grade A office building located in Vanwall Business Park, Berkshire, UK, for GBP24.5 million. Rasmala led the sourcing, structuring and execution of the transaction.
The building is located in the Thames Valley district, near Heathrow Airport, an area with many leading international technology and R&D companies, as well as others. The expected opening of a Crossrail link will further improve the area’s connectivity with central London. The property is currently let to AbbVie, the pharmaceutical research and development arm spun off from Abbotts Laboratories, for a term of 11.5 years starting in July 2014.
Rasmala has plans to invest approximately USD1.5 billion in a broad mix of commercial real estate transactions in the UK, continental Europe and the US over the course of the next three years.
Naseer Aka, Head of Real Estate at Rasmala, commented: “We are pleased to have successfully completed the acquisition of AbbVie House. It is a further validation of our strategy to invest in a broad range of real estate transactions in order to meet the growing investor demand for secure long-term income.”
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Established in 1999, Rasmala plc (Rasmala) is a London-headquartered independent investment manager. Rasmala provides investment management solutions to pension funds, family groups, corporations and government institutions. Rasmala is listed on the AIM market of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority (“FCA”).