Joint founder of Carphone Warehouse David Ross has launched a joint venture property company with Morgan Stanley Real Estate Fund (MSREF)
Ross’ private property investment and asset management company The Kandahar Group has teamed up in a 50:50 joint venture with Morgan Stanley Real Estate’s MSREF V International to be called Kandahar Real Estate Limited.
The new company will focus on UK retail and leisure schemes.
Kandahar’s initial portfolio will total over £500m and will include the 560,000 sq ft (52,025 sq m) Drake Circus in Plymouth which was developed for MSREF by P&O Estates.
Other assets will include Kandahar Group’s 1m sq ft (92,902 sq m) UK high street shops
portfolio valued at £243m.
The Kandahar Group is 100% owned by the Kandahar Trust, which was
founded by Ross. Ross set up Carphone Warehouse in 1989 with Charles Dunstone.
Kandahar is led by a management team consisting of former Carphone Warehouse head of property Amanda Hill, former finance director at Pillar Property Martin McGann,
and former asset manager at Pillar Mike Tyler.
Briant Champion Long advised Kandahar and Kitchen La Frenais Morgan advised MSREF.