Gatehouse Bank plc today announced that it has successfully completed the sale of InterContinental Hotels Group's global HQ commercial property, Broadwater Park. The total amount of the sale reached £36.75 million, which yielded a profit on equity of 29.9% post costs and taxes.
Read moreSigma, the residential and urban regeneration specialist, is pleased to announce that it has agreed a major joint venture with Gatehouse Bank plc which will support the roll-out of an initial c.2,000 new privately rented residential properties in the UK, with the potential to grow the portfolio to c.6,600 new rental homes once fully developed. The initial c.2,000 new rental homes have a total development cost of c.£200m and the development cost of the entire proposed portfolio is estimated at c.£700m. Gatehouse is a leading London-based Shariah compliant investment bank with a real estate portfolio worth in excess of £1 billion across the UK and US. The new homes will be built on land procured and developed by Sigma and the model is underpinned by Sigma's existing three local authority partnerships, with Sigma currently in discussions with other potential local authority partners.
Read moreGatehouse Bank, a leading Shariah compliant investment bank, is pleased to announce the significant appointment of a newly created Chief Investment Officer role.
Deal brings total acquisitions to $1.7 billion assets under management.