Arzan Wealth Advises On Acquisition Of Marks & Spencer Anchor Store At The Centre, Livingston, Scotland
By Ron Chen, Asia
A Dubai-based advisory firm regulated by the Dubai Financial Services Authority, Arzan Wealth (DIFC) Limited (Arzan Wealth), has announced that it has successfully advised a client on the acquisition of a modern, purpose-built three-story department store leased to Marks & Spencer PLC.
The store serves as the anchor tenant of The Centre, Livingston, one of Scotland’s largest shopping centers. This acquisition involves a 96,859 sq ft property that includes an M&S Department Store featuring a Food Hall, Clothing & Homeware sections, and an M&S Café, all fully leased to Marks & Spencer PLC (S&P: BBB-) under a 25-year lease expiring on 24th December 2033. The lease is subject to annual review with fixed increases of 2.5 per cent.
Arzan Wealth provided comprehensive advisory services throughout the structuring and acquisition process and will continue to support the investment during its holding period, which is expected to generate an average annual return of 9 per cent on an unlevered basis for clients.
CEO of Arzan Wealth, Muhannad Abulhasan commented: “We are thrilled to have facilitated the acquisition of this M&S asset, which we believe will offer strong returns for our clients. The investment presents an attractive risk-reward profile, particularly given that the deal is unleveraged, providing us with flexibility in terms of strategy moving forward. Our focus remains on prudent risk management and delivering robust financial outcomes to our clients, with the ultimate aim of safeguarding their wealth and legacies.
