Foot Anstey advises on acquisition of Travelodge Gatwick Airport Hotel in Surrey

By Sam Pither

12 May 2023

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Foot Anstey LLP’s Islamic Finance team has advised Bahraini institutional investor Blacksand on its corporate acquisition of the Travelodge Gatwick Airport Central Hotel.

The acquisition, which is worth £40m, comprised of acquiring the corporate structure that owns the property which is leased to Travelodge on a long-term basis. Blacksand obtained Islamic Financing from Abu Dhabi Islamic Bank.

The Foot Anstey team included Lingxi Wang (Managing Associate) who advised on real estate and finance matters, Karl Bradford (Legal Director) who advised on the corporate aspects of the deal. They were support by Imam Qazi (Partner), Zahir Nayani (Partner), Aziz Deen (Associate) and Sioned Harries (Trainee Solicitor).

Lingxi Wang, Managing Associate at Foot Anstey, said: "This is the first unit trust acquisition that we have completed for Blacksand having previously supported it on the acquisition of a £41m purpose-built student accommodation asset. The team at Blacksand continues to make strong strategic real estate investments within the UK market, and we're happy to support them with these opportunities. "

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.