Hong Kong's Emperor International has announced the acquisition of a retail and office building located at 25-27, Oxford Street, London for £35,500,000, equivalent to approximately HK$419,645,500.
The Property is an 8-storey retail and office complex with a floor area of 11,596 sq.ft. The acquisition will be completed by the end of this month. The Group intends to use it as a long-term investment.
Emperor’s latest property is on the south side of Oxford Street close to Tottenham Court Road where the new Crossrail transit is due to arrive in 2018. Emperor will be hoping that rents will rise when the new rail link opens and the buildings are refurbished.
Mr. Donald Cheung, Executive Director of Emperor International, said, “The property is located at a prominent shopping hub in London, which is one of the popular tourist spots for international visitors. It is also close to Tottenham Court Road subway station. Further, we are optimistic towards the potential rental increment and capital appreciation in the long-term.
Emperor International also bought 181-183, Oxford Street last November, they have said they are keen to diversify their property investment portfolio widening the rental revenue base.
Four companies within the Emperor Group are listed on the Main Board of the Hong Kong Stock Exchange including Emperor International Holdings Limited which focuses on real estate investment and property development.
