Foot Anstey completes refinance of Superdrug’s £21.5m HQ for Riyad Bank
The Islamic Finance team at national law firm Foot Anstey LLP has advised Riyad Bank’s London branch on the refinancing of Superdrug’s £21.5m corporate headquarters.
Foot Anstey’s team were instructed to advise on the refinancing of the 55,000 square foot property in Croydon, which features a wellness clinic and nail bar and houses the headquarters of the health and beauty retailer.
The Foot Anstey team, which led on all legal advice for Riyad Bank, included partner Zahir Nayani, Kate Heard, associate, and Leena Payyappilly, associate. The team advised Riyad Bank on the real estate, banking and Islamic finance elements of the transaction, supported by Guernsey-based Collas Crill on the offshore elements.
Riyad Bank is one of the largest financial institutions in Saudi Arabia and the Middle East and provides a range of products and services for both retail and corporate customers that are fully compliant with the Islamic Sharia’.
This is the second refinancing deal that Foot Anstey’s Islamic finance team has advised Riyad Bank on in recent months and follows the £17.5m refinancing of a Grade A office asset in July 2021.
Zahir Nayani, partner in Foot Anstey’s Islamic finance team, commented: “Riyad Bank offers innovative financing solutions to its clients, and we were naturally delighted to work collaboratively with all transaction counterparties to complete this transaction and, in doing so, strengthen our relationship with Riyad Bank.