Despite a chaotic election and looming Brexit negotiation uncertainties, an Asian buyer is completing one of London's largest real estate deals.
Bank of China (Hong Kong), HSBC and ING have closed one of the UK’s largest real estate financing deals by securing the finance for the acquisition of The Leadenhall Building, a 46-storey landmark prime commercial building, otherwise known as the «Cheesegrater.»
The three banks acted as Joint Mandated Lead Arranger, Joint Bookrunner, Joint Coordinator and Joint Hedge Coordinator by providing financing for the asset which was bought earlier this year for 1.15 billion pounds sterling by C C Land Holdings, a Hong Kong listed real estate company.
China's Appetite For Trophy Buildings
It was the largest acquisition of a single building in the U.K. since December 2014, when the HSBC Tower in Canary Wharf was acquired for 1.17 billion pounds, and demonstrates the continued global investor interest in London’s strong real estate market.
«This strengthens our confidence in the long term London property market and we will continue to look for potential investment opportunities in this city, especially on those trophy and iconic buildings similar to The Leadenhall Building,» said Dickie Wong, Deputy Chairman and Executive Director at C C Land.
