Property Week – 90 North in Lincoln and Canterbury

Sharia-compliant investor 90 North Real Estate Partners has completed two deals totalling £64m.

The group set up by Gatehouse Bank’s former head of property, Philip Churchill, and Nick Judd, and backed by James Caan, has bought Parham Road Student Village in Canterbury on behalf of Gulf investors.

The village comprises 800 bedrooms and is the largest single private student housing scheme in the city. It will be managed by 90 North and Pavilion Property Group.

The group is also to fund a gas turbine facility at Siemens’ new headquarters at Teal Park in Lincoln. The technology manufacturer is expected to move there in 2013.

Churchill and his partner, Judd, former head of investment at Unicorn Investment Bank, launched 90 North in October 2011 for Gulf-based investors who want to invest in sharia-compliant real state in the UK. Caan is chairman of the company.

LandCap and Foot Anstey advised 90 North; Quinn Estates and Furley Page advised the vendor.

Article from Property Week