Mon, 21 Mar 2011 | DIVISION SALE
David Ross, entrepreneur and Carphone Warehouse co-founder, is preparing to dispose of his commercial property assets.
The assets, owned by Ross’s 'Kandahar Real Estate' property firm, include shopping centres and other leisure related properties. The portfolio of over 30 buildings feature the £55 million Jackson Square shopping centre in Bishop’s Stortford and the Church Walk shopping centre in Caterham, Surrey.
Jones Lang LaSalle has been drafted in to assess the options for the properties, which are understood to be worth a total of £200 million. Sale options may include selling the buildings off individually or putting them into joint ventures.
At the peak of the property market, the property portfolio was worth in excess of £500 million - the value then plummeted downwards in the recession.
Towards the end of February it was reported that Ross’s efforts to restructure Kandahar’s debts, which were last valued at £192 million, failed at the last moment. The plan was for Catalyst, a fund management firm, to buy Kandahar’s debts from Lloyds bank. The bank pulled out however, after deciding to request a higher price for the assets.
Kandahar was set up in 2003 to invest in leisure and retail assets with backing from Mr Ross and HBOS.
Mr Ross intends to remain in the property sector and reportedly may collaborate with Julian Newiss and Peter Kasch, who run Catalyst Capital.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.