Kuis nets £400k profit from sale

PROPERTY investment company KUIS has sold Victoria Hall in Barrow for £500,000, generating a £400,000 profit.

The Bolton-based company, which bought the vacant hall less than a year ago, has since transformed it into a business centre, with a number of businesses signing up to lease office space.
 
The building now produces a rent roll of £60,000 a year and KUIS will continue to manage the property on behalf of the new investor.
 
Paul Kiely, managing director of KUIS, said: “The sale of Victoria Hall proves that the KUIS business model is working perfectly. We have boosted the economy of the area, and provided the best value floor space in Barrow for local businesses.”
 
He added: “We have secured our jobs here in Bolton and the investor acquired the property at well below market value, so the project really has benefited everyone involved.”