Transactions - APRIL 20, 2016

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Chinese investor buys London office asset for £140m

by Andrea Waitrovich

China-based HNA International Investment Holdings Ltd. has acquired a commercial building in London’s Canary Wharf from an independent third party for £140 million ($201.3 million).

The property, 17 Columbus Courtyard, is a commercial building in Canary Wharf in a waterside position overlooking North Dock to the east and Columbus Courtyard to the south. The total gross floor area of the property is about 195,400 square feet of class A office and ancillary space arranged over quay level, ground and nine upper floors, with plant and machinery at basement and roof level. The property is leased to Credit Suisse until November 2024 with an option to renew for another 15 years. Annual rent in 2015 totaled £6.4 million ($9.2 million).

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