Hong Kong firm buys City of London office

Hong Kong financial services group Hao Tian Development Group has agreed to buy the 160,000-square-foot Corn Exchange in the City of London for £130 million ($185 million).

The seller is the Thai-Chinese group Reignwood Europe.

London has assumed first place as the number one global city for real estate investments, according to the results of a new survey taken among the members of the Association of Foreign Investors in Real Estate.

Commercial transaction volumes in the U.K. are expected to reach around £50 billion ($71 billion) for 2017, despite Brexit and political uncertainty, according to JLL. International investors account for around half the total volumes across the country, and 80 percent or more of the total in London. In 2017, nearly 50 percent of capital invested in London offices was from Hong Kong.

With recent announcement