Gatehouse Bank,in cooperation with GSH Kuwait, has acquired the UK headquarters of Procter & Gamble, one of the world’s leading pharmaceutical companies for a total acquisition cost of £34million for the bank’s clients.

The Procter & Gamble headquarters is a 109,290 sq. ft. Grade A office and conference facility constructed in 1995 on The Heights, Weybridge, Surrey, one of the most prominent office parks in the south east of England.  The property is let in its entirety to Procter & Gamble until June 2020 and will provide clients with an annual cash distribution of 9.7% distributed quarterly.

Fahed Boodai, Chairman of Gatehouse Bank, Chairman and Managing Director of GSH Kuwait, commented:
After exiting the UK real estate market at its height in 2007, we decided to come back to this market due to the strength of this exceptional investment opportunity.  This acquisition perfectly reinforces Securities House’s vision of building a bridge between the East and West by combining Gatehouse Bank’s on ground Investment Banking services in addition to GSH’s unique expertise and track record in global real estate investments.   

Richard Thomas, CEO, Gatehouse Bank, commented:
“This acquisition is a perfect example of how Gatehouse Bank adds value in combining our services as an investment bank with strong real estate experience and investment funding expertise.  It is also a clear indication that the UK remains an attractive investment environment for dollar based investors and we are confident that this will be the first in a series of similar investments.”

Philip Churchill, Head of Real Estate, Gatehouse Bank, commented:
“Our mandate was very clear, to acquire prime real estate on long leases to blue chip, Shariah compliant tenants at a fair price.  There are many investors seeking to invest in a range of real estate asset classes in a Shariah compliant manner and Gatehouse has built a real estate team to facilitate this process and we are already at an advanced stage on a number of other potential investments across a range of property classes and locations.” 
 
Gatehouse Bank plc.
Gatehouse Bank plc (“Gatehouse”) was incorporated as a wholly-owned public limited company in the UK by The Securities House of Kuwait in 2007.
Gatehouse received approval from the Financial Services Authority on 22nd April 2008 for a licence to act as a deposit taking banking entity operating within the UK regulatory environment

GSH
GSH K.S.C.C. is an international investment advisory firm based in Kuwait. From its headquarters in Kuwait and its subsidiaries in some of the world’s key financial cities, It structures, manages, and monitors innovative and exceptional global investment products on behalf of its investors.
GSH has extensive experience within the global markets, having structured and realized significant transactions in the US, UK, and France.  GSH is a subsidiary of the Securities House K.S.C.C.