RMB COMPLETES ACQUISITION OF HOUSE OF FRASER BUILDING ON BEHALF OF MIDDLE EASTERN INVESTORS

18th August 2016


Rosette Merchant Bank, in its capacity as acquisition and structuring advisor, has completed the acquisition of the iconic House of Fraser building in Cardiff from M&G Real Estate, on behalf of Middle Eastern investors. The property was acquired on an off market basis for £37m representing a yield of 6.25% and benefits from a remaining unexpired lease term of 23 years. The building is one of Cardiff’s most recognisable buildings and provides over 275,000 sq. ft. of retail accommodation.

Rosette CEO, Oliver Wynne James, said:

“This deal demonstrates the ongoing appetite of GCC based investors to acquire prime real estate secured to globally recognised brands. The lease duration sees through the Brexit event and provides excellent income backed by deep value”.

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Note: Rosette Merchant Bank acted as acquisition and structuring advisor in connection with this transaction.