Having been well positioned to invest in the UK real estate market, the Kuwait-based Kout Capital team, through its strategic partners in England, have managed to acquire, operate, and sell the Chapel Quarter investment in Nottingham, UK. The subject property is a 144,430 sq. ft. leisure, hotel and office center located in the heart of the city.
It was acquired in 2011 at a price of £18.775 million, for a 5-year holding period. The Kout Capital team and its partners have proven their ability to pro-actively enhance the value of this investment held on behalf of their clients. With deep knowledge of the real estate market and highly skilled teams focused on asset and investment management, the Kout Capital team and its partners have achieved high-quality income streams and credit worthy tenants with long-term leases, providing attractive rental flows to the investors.
This of course is a result of the asset management team who have managed to fill out vacant space, convert void space into Grade A office space, and renovate common areas. These improvements lead to leasing 100% of the property and the achievement of tenant satisfaction. In effect, given the current dynamism of the UK property market, an attractive offer was received from a UK investment fund. The subject asset was sold in late 2014, earlier than the initially planned exit date, for a price in excess of £25 million. The investment has finally generated exceptional financial performance to the investors due to a product of successful asset management initiatives and outstanding investment management strategies, employed by the Kout Capital team from its base in Kuwait.