Hong Kong Investor Pays £270 Million For London Property

Deka Immobilien GmbH, represented by joint agents Savills and CBRE, has completed on the sale of Christ Church Court at 15 Newgate Street, EC1 in an off market transaction to Hong Kong-based investor Mr Hui Wing Mau, represented by BNP Paribas Real Estate.

The deal is the first UK investment made by Mr Hui Wing Mau, who is the owner of Shimao Property, one of the largest property developers in China.

The office building, located on Paternoster Square, totals approximately 303,000 sq ft and is let entirely to Goldman Sachs until 2025, subject to a tenant break option in 2020.

John Heaver, director of strategic investment, comments: “Christ Church Court is a prime office building, located prominently on Paternoster Square and benefits from a prestigious international tenant.  We continue to see a high amount of interest from Asian investors in this type of first-class London asset and expect this to continue for the foreseeable future.”

Richard Garside, Head of City Investment at BNP Paribas Real Estate, said: “We are delighted to have acted for Mr Hui Wing Mau on the off market acquisition of Christ Church Court as it was a rare opportunity to acquire one of the few assets within the Paternoster Square Estate as well as a prime City of London asset adjacent to The London Stock Exchange.”

 

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