Kout Capital LLC (“Kout”) announces that it has successfully completed a senior loan agreement with HSBC bank in the United Kingdom; securing a loan to partially refinance its latest commercial property investment acquisition of Wisbech Retail Park. The park was recently acquired in cash on behalf of clients for in excess of £14 million providing a NIY of 7.7% in September 2017. HSBC bank has granted a loan-to-value of 57.5% for a term of five years on favourable terms.
Wisbech Retail Park comprises 83,004 sq ft in the principal out-of-town retailing area of Wisbech in Cambridgeshire, UK. It contains high profile retailers who benefit the town and it generates an annual rental income of approximately £1.16 million per annum with significant income growth opportunities and the potential for yield compression.