UBS Has a New Landlord at London Headquarters

The Hong Kong-based company, which owns the building housing UBS's London headquarters, is selling it to a new owner who is also in Asia.

The building at 5 Broadgate in London housing UBS's London headquarters has been sold by Li Ka-Shing's CK Asset Holdings for 1.21 billion pounds ($1.6 billion), according to a report from «Bloomberg» (behind paywall).

South Korea's National Pension Service will be the new owner, with UBS remaining a tenant at the site until at least 2035, having moved in following the building's completion in 2015, according to Bloomberg. 

CK Asset holdings acquired the property in 2018 and booked a 45 percent return since then on rental income and appreciation of the property.