A club of Korean institutional investors has closed a deal to buy a London office located at 125 Shaftesbury Avenue for £267 million ($334 million).
The seller was Almacantar.
The 1980s building includes 140,000 square feet of office space let to WeWork on a 20-year lease, as well as 37,000 square feet of retail space let to tenants including Made.com, the homeware retailer, and Nisbets, which sells commercial kitchen equipment.
London was the destination for approximately 26 percent of Asian outbound capital during the first half of 2018, according to Emerging Trends in Real Estate Asia Pacific, published by the Urban Land Institute and PwC. Singaporean and Hong Kong investors were considered the most active in the market.
Cushman & Wakefield reported U.K. office investment fell to £4.7 billion ($6.02 billion) quarter-on-quarter during the third quarter 2018, 30 percent below the five-year average and the lowest total since immediately aft
