Taiwan investor enters London office market
Taiwan-based Pacific Eagle has purchased the London office 71 Queen Victoria St. for £220 million ($315.32 million) from Israel-based private investors Electra Real Estate and Kamor, according to Real Capital Analytics. This will be the firm’s first foray into the United Kingdom, although Pacific Eagle owns assets across major U.S. markets, principally Boston, California, Chicago and New York.
Cushman & Wakefield advised Pacific Eagle.
The 200,000-square-foot 71 Queen Victoria St. is 85 percent occupied. Major tenants include Wedlock Bell, Saffery Champness and Virigin Active.
London attracted major investors from Asia in 2015; more than $11 billion of Asia Pacific Capital was invested in metropolitan London properties. Despite oil price and volatile stock market concerns, it’s expected foreign investors will continue to target London as they seek to diversify their portfolios.
To date, more than $3.5 billion of As