Gambi's Chinese EST H lists London West End office building for sale at a price of 135 million pounds
Chinese EST H, with Hong Kong's richest woman, Kambe, as CEO, is listing a high-end office building in the Mayfair area of West London for sale, with an asking price of £1.35 billion
Source: Guandian.com
On June 19th, according to Global Real Estate Notes, Chinese Estates Holdings, with Hong Kong's richest woman, Kambe, as CEO, is listing a high-end office building in the Mayfair area of West London for sale, with an asking price of 135 million pounds. Prior to this, several investors had expressed their intention to acquire it in the private market.
The four-story building at 14 St George Street, designed by renowned architect Eric Parry, has a total floor area of 51,861 square feet. Currently, the third floor is vacant, with two tenants and an average rent of about £83.5 per square foot.
Chinese Estates Holdings hopes to sell it for approximately 135 million pounds, reflecting a net initial yield of 3.8% and a capital value of £2,650 per square foot. The property was acquired by Chinese Estates Holdings from the UK asset management company Abrdn in 2016 for £121.7 million at a yield of 3.5%. If sold at the asking price, it is expected to bring good profits to Chinese Estates Holdings