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Email: info@redkiteland.com Phone: 0207 486 5777
Email: info@redkiteland.com Phone: 0207 486 5777

House of Fraser Store purchased for £8.35m showing 8.5%

In July 2009 we purchased the House Of Fraser store in West Street, Chichester for Private Equity Clients from British Land. Full due diligence was taken out on the tenant’s financial standing including an in depth interview with Mark Gifford Finance Director for HOF.The purchaser was also advised on the tax structure for the purchasing vehicle. We secured from Alliance and Leicester Commercial (now Santander Corporate Banking) a debt of £5.44m which was geared against the property and the Private Equity now enjoys a 11.5% p.a. net return on a lease for 30 years remaining. A full bespoke Asset Mangement service was provided and the property will be monitored for the Equity Investor on a quarterly basis.

This purchase can be read about on the following link to Property Week

House of Fraser - West Street

House of Fraser – West Street