Gatehouse Bank rolls out of RR manufacturing facility

Shariah-compliant investment bank Gatehouse Bank has completed the sale of a manufacturing and logistics facility leased to Rolls Royce in Scotland.

The 50,200 m2 warehouse was sold for £55 mln (€66.5 mln), yielding an IRR of 10.3%.

The property was purpose built for Rolls Royce to cater for its manufacturing and distribution requirements and is currently leased to the company until 30 March, 2028. Rolls Royce has spent £85 mln on turning the facility into an advanced large-scale manufacturing complex. It is located adjacent to Glasgow International Airport and the M8 motorway.

Fahed Boodai, chairman of Gatehouse Bank, commented: 'This marks the 7th successful exit for the company in the past 12 months and underlines the success of our strategy of identifying and backing unique investment opportunities in global markets.'

Gatehouse Bank was advised by Savills on the transaction.