Kuwaiti real estate company Salhia Real Estate has sold the future UK headquarters of German sportswear maker Adidas to the National Farmers Union Mutual Insurance Society for 33 mln (about EUR 50 mln), Bloomberg has reported.
Kuwaiti real estate company Salhia Real Estate has sold the future UK headquarters of German sportswear maker Adidas to the National Farmers Union Mutual Insurance Society for 33 mln (about EUR 50 mln), Bloomberg has reported.
Salhia is developing the 33,500 m2 building in Manchester's Trafford Park with UK property investor and developer St Modwen Properties. Adidas has already agreed to lease the building.
In 2006, St Modwen and Salhia formed Key Property Investments, a long term 50/50 joint vehicle that will invest up to £100 mln (EUR 146 mln) in UK commercial investment property.