ROYAL MAIL CALL CENTRE ACQUIRED WITH 3.3M FUNDING SUPPORT

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A prominent office building in Rotherham in use as a Royal Mail call centre has been acquired, supported by a £3.3m investment facility.

Bank of London and The Middle East (BLME) has provided the funding to a GCC (Gulf Co-​Operation Council)-based investor to finance the purchase of Dearne House on Cortonwood Business Park.

The property, sitting on a large site of about 4.2 acres, provides a purpose-built office building and call centre let to Royal Mail, with accommodation arranged over ground and two upper floors.

The ground floor provides a number of open plan and private office areas, a large canteen and commercial kitchen, a gymnasium and private meeting rooms.

In Nottingham, BLME has also provided £5m for the Fiera Real Estate fund an open-ended real estate fund run in partnership between Fiera Real Estate UK and Darin Partners, facilitating the purchase of a property making up a flagship dealership for BMW.

Sam Dickinson, associate director, real estate finance at the BLME, said: "It's a huge show of confidence in the UK real estate market that both these new deals have the backing of GCC-based investors. With both clients looking to secure stable, long-term income from these investments, it's clear the UK market is viewed favourably by international investors.

"Deals like this are strategically important for BLME as we seek more to generate more opportunities in the real estate market in regions across the UK and to help boost to the sector as the country bounces back from the Covid-19 restrictions of the past 18 months."

These deals are the latest in a series of transactions completed by BLME in the last year. In March, the bank agreed a £14m deal with Oriental Light to support the developer's first UK serviced apartment project in central London. In October 2020, it provided half of a £32m facility to construct a 222-unit co-living development in Harrow.