Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwaiti-owned Bank Helps Acquire another Prestigious Property in London, UK  Join our daily free Newsletter

MENAFN Press - 09/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN Press) Gatehouse Bank plc, a Kuwaiti-owned wholesale Shariah compliant investment bank based in the City of London, has completed the 165 million acquisition of the law firm SJ Berwin's offices at 10 Queen Street Place in London, in collaboration with a flourishing Malaysian Sovereign Wealth fund.

Gatehouse acted as Investment and Shariah Adviser for the deal, which marks the Malaysian client's first investment into the London real estate market and is a key part of its wider global investment strategy.

According to latest statistics, the UK accounted for 30bn of global real estate volumes traded in 2011, with cross border investment playing an increasingly critical role.

This is particularly true in Central London, where foreign investment accounted for 85% of total cross border activity in 2010 and 2011.

As Richard Thomas, Chief Executive Officer of Gatehouse Bank, commented: "The global Islamic Finance markets are continuing to grow and diversify, and this latest deal offers a significant example of international co-operation and the extent to which funds can be mobilised around the world in a Shariah compliant manner.

The unique position of Gatehouse Bank “ located in the heart of the City of London with a strong international client base “ means that we can tap into the worldwide spread of Islamic economic activity for the benefit of our clients and investors."

As well as being a centre for Islamic Finance, London has historically been attractive to international investors due to its position as a world financial centre, and its maturity and transparency as a market.

Alongside its growing reputation as one of the most popular destinations for Islamic Finance in Europe, London offers a significant number of benefits to real estate investors, including a relatively light regulatory environment, flexible labour laws and a heavy concentration of high quality buildings and desirable areas.

It also offers a strong and improving infrastructure and transport system, with real estate leases that tend to be longer than elsewhere, along with mainly upwards-only rent reviews that are highly favourable for landlords.

As Adam Cavanagh, Head of Real Estate at Gatehouse Bank, explained: "The London property market, with its high concentration of global headquarters, long leases and upward only rent reviews, is still seen as a safe-haven for investment.

This latest deal, for a property with a well-established tenant and in highly desirable location, exemplifies the qualities that overseas investors are looking for right now.

As such, it presented an excellent opportunity to make an acquisition that promises long term income at an attractive yield.

Our client has been looking for opportunities to diversify its portfolio and with its first foray into the London market the fund has made an excellent acquisition that offers a highly sustainable return on investment."

At 221,198 sq ft, 10 Queen Street Place is a modern building in the City of London overlooking the Thames, comprising offices, retail, 20,000 sq ft roof terrace and accommodation arranged over basement, ground and four upper floors. Beneath the building is a car park, operated by NCP.

The tenant, SJ Berwin, one of the UK's leading legal firms, has invested heavily in the building's upkeep and refurbishment throughout its tenancy having comprehensively refurbished the property in 2007.

With real estate assets under management in excess of 782 million, Gatehouse Bank specialises in originating, structuring and funding investments in a Shariah compliant manner.

To meet continuing investor demand for high quality property investments, Gatehouse Bank provides leading advice and opportunities to investors across a diverse range of properties ranging from retail and offices, to student and logistics sectors.

Both Gatehouse Bank and their client were advised by Savills on the deal.


About Gatehouse Bank
Gatehouse Bank operates as a Shariah-compliant wholesale investment bank based in the City of London focusing on: Real Estate, Wealth Management, Treasury products and services and Shariah advisory services.

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

Apr 24 2014QBA strengthens economic ties with Kenya ,MENAFN
(MENAFN) Members of the elite Qatar Businessmen's Association (QBA) stated their willingness to cooperate with their Kenyan peers, strengthening economic ties between Qatar and Kenya, The Peninsula ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Russian Lebanese Foreign Ministers to Discuss Situation ,Qatar News Agency
(MENAFN - Qatar News Agency) scow April 24 - Russian Foreign Minister Sergei Lavrov and his Lebanese counterpart Gebran Bassil will discuss bilateral relations at a meeting in Moscow on Thursday as ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help