12 May 2017
The office building, which is multi-let to several tenants, including Blackstone and Marble Bar Asset Management, is the third building on the square to be sold this year. This follows the sale of 8 St James’s Square in January for £213m and separately, the sale of 3 St James’s Square for £135m last month. All three buildings have been bought by Hong Kong based investors.
11/12 St James’ Square represents the fourth significant acquisition Chinese Estates has made in London in the past two years and adds to their portfolio of prime Central London assets.
Patrick Lowther, Property Fund and Investment Manager at Savills Investment Management comments:
“The sale of the asset is in line with our client’s diversification strategy which focuses on providing optimal and long-term sustainable returns, while also enabling them to reinvest the proceeds into other prime assets.”
James Rood, Senior Director in the Central London Investment team at CBRE comments:
“We are delighted to have acquired 11/12 St James’ Square on behalf of Chinese Estates following a competitive bidding process. It will be a fantastic addition to their portfolio and is another example of the strength of appetite and commitment from overseas capital, particularly from Asia, for prime London real estate.”
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