10 October, 2017

Kout Capital Acquires Wisbech Retail Park in the U.K in excess of £14 million at a NIY of 7.7%.

Kout Capital Acquires Wisbech Retail Park in the U.K in excess of £14 million at a NIY of 7.7%.

Kout Capital has recently acquired Wisbech Retail Park from Tesco Stores Limited for an excess of £14 million, reflecting a market net initial yield of 7.7%. The purchase was completed on behalf of Kout Capital’s trusted clients and was funded in full by cash.

The asset is comprised of 83,004 sq ft in the principal out-of-town retailing area of Wisbech in Cambridgeshire, the retail park generates an annual rental income of circa £620,000 with significant income growth opportunities and impending yield compression.

Wisbech is the second largest market town within Cambridgeshire. The retail park occupies a large site in a prominent established position on Cromwell Road, the main retail warehousing destination for Wisbech.

The property itself has institutional characteristics and has been built to a high standard featuring a modern warehouse design in 2014. Existing occupiers of the park have high-quality covenants and substantial national profiles including Poundstretcher, Poundworld, Iceland and Sports Direct.

The Kout Capital team and its associates have identified solid investment strategies for the retail park and have previously established a track record of tremendous commitment in securing ideal value outcomes for various assets.

Investment management initiatives planned for this property include ensuring that property management goals are carried out properly to maximize running yields to investors, overseeing the progress of appointed property managers and letting agents, and delivering ideal management outcomes to turn the asset into institutional-grade quality to maximise sales price at the disposal stage. The Kout Capital team is keen on enhancing the asset’s value over the investment cycle and are confident of their management approach towards creating an attractive and appealing end-product.

International lawyers, CMS, and property agent and manager, CBGA Robson, represented Kout Capital.

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