JD.com, one of China’s largest retailers, has purchased a heritage office building in West London for use as its U.K. headquarters, reported Mingtiandi. The seller was a joint venture between BlueFive Private Wealth and General Projects.
Financial terms of the deal were not disclosed; however, Mingtiandi estimated the sale price at approximately £147 million ($196.5 million), based on the gross development value previously cited for Systems following completion of its refurbishment last month.
The acquisition is part of the ecommerce company’s European business expansion.
The 11,800-square-meter (127,000-square-foot) project is located in the affluent Brook Green neighborhood of London.
