Hong Kong investor buys London office for £292m
TH Real Estate, on behalf of the Cityhold Office Partnership, has sold One Kingdom St. in London for £292 million ($365 million).The prime office was acquired by Hong Kong–based investor C C Land Holdings in an offmarket transaction.
The nine-story landmark office building totals 264,898 square feet, and tenants include Vodafone, Shire, Mysis and Statoil.
Cityhold Office Partnership is a joint venture with Swedish pension funds AP1 and AP2. The sale marks the end of the partnership’s London disposal program, having sold the Peak in Victoria in December 2016 for £145 million ($181 million). The joint venture will be focused on actively managing the residual £700 million ($875 million) London portfolio and selectively redeploying the capital into other London submarkets.
“The venture will actively seek to reinvest the proceeds throughout 2017 — with a focus on gateway continental European cities such as Berlin, Munich, Paris and Madrid,” said TH Real