A weekly round up of the latest property news from the central London boroughs
City of London
PW reports that Hong Kong’s Henglu Investments Holding has completed the acquisition of the HQ of Lloyds Banking Group at 25 Gresham Street. The price, believed to be around £150m, is Hengli Investments’ first purchase in the UK.
City of Westminster
PW reports that LGIM Real Assets has sold 72 Broadwick Street, a mixed-use office and residential scheme in central London, to Shaftesbury for £87m. The asset was acquired by LGIM Real Estates in January 2015 for £67m as the first purchase for its office joint venture partnership between Legal& General Capital and Dutch pension fund manager, PGCM.
PW reports that Investec is providing Westbourne Capital Partners a £46m financing facility to allow the acquisition of a two-acre site opposite Lord’s Cricket Ground.
PW reports that Blend Property UK and Westminster Real Estate have sold 35 Chiswell Street, a prime freehold central London investment opportunity, to a private investor for £14.85m. This reflects a capital value of £859/sq ft and a net initial yield of 4.13%.
PW reports that Said Holdings has sold its landmark Canary Wharf office building at 5 Churchill Place to Cheung Kei Group for £270m. This reflects a value per sq ft of £846 and a net initial yield of 5.2%.