Chinese investors target London office property as market correction, vaccine roll-out underpin latest deal in 2021 Cheryl Arcibalcheryl.arcibal@scmp.com The UK is Hong Kong investors’ favourite investment destination, and that trend could persist in 2021. Photo: Handout
Global investors, particularly from mainland China and Hong Kong, are snapping up London office properties in anticipation the economy will make a swift recovery as the government rolls out a speedy Covid-19 vaccination programme.
Chinese buyers picked up US$2.12 billion worth of UK commercial property in 2020, about a third of the US$6.8 billion they spent in the rest of the world, according to Real Capital Analytics, which tracks transactions worth at least US$10 million each. The UK has been Hong Kong investors most-favoured destination for seven of the past 10 years, it said.
Wing Tai Investor Group Buys London Office from Henderson Park
Posted on 03/05/2021
Wing Tai Properties Limited (previously USI Holdings Limited), Top Paramount, Champion SPV, and Sparkle Delight bought a property located at 66 Shoe Lane, London EC4A 3BQ, formerly known as Athene Place for £255 million from Henderson Park Capital Partners. Athene Place possesses 153,462 square feet of office and ancillary space and approximately 4,196 square feet of retail space.
Henderson Park acquired the asset in June 2018 for £101 million from Commerz Real after Deloitte vacated the building. The building is currently leased to former occupier Deloitte. Henderson Park refurbished the property after they acquired it. Endurance Land was the development manager for Athene Place.