City Developments Limited (CDL) announced on Friday morning that it has acquired a prime freehold Grade A commercial building in London for £183 million (S$328 million). The project, Aldgate House, is located in the district of Aldgate, right beside Aldgate Underground Station and with six other stations within a five-minute walk. CDL said the acquisition was undertaken "as part of its focus on...
Ho Bee Land announced on Sunday that it has acquired a freehold 21-storey Grade A office building in London, by purchasing its owner Frasia Properties Sàrl for £650 million (approximately S$1.16 billion). Registered in Luxembourg, Frasia Properties Sàrl owns the property known as Ropemaker Place, a 21-storey Grade A office building comprising approximately 602,000 square feet of commercial...
The vast majority of overseas companies that own property in London, including many used by individuals to help disguise their ownership, are registered in tax havens, according to a report by Transparency International UK and Thomson Reuters. Just over 90 per cent of the 23,653 overseas companies owning 44,022 land titles in London were registered in places such as the British Virgin islands, Jersey,...
London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday (Sep 29). "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support...
London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday. "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support development and...
United Overseas Bank (UOB), Singapore's third-largest lender, has suspended its loans programme for London properties in the wake of uncertainties caused by Britain's vote to leave the European Union. UOB would be among the first banks in Singapore to turn cautious on such lending, even though it is not a large amount, as Brexit spooked global markets and pushed the pound to multi-year lows. "We will...
Local developer Ho Bee Land on Tuesday (Dec 1) said it will buy its sixth office property in London for £99 million (S$210 million), continuing its expansion in the UK. Called Apollo House and Lunar House, the property in Croydon, London comprises one 20-storey office building and one 22-storey building with a total 441,797 square feet of office space. The site is designated in the London Borough of...
Keppel Land on Monday (Feb 9) has entered into a sales and purchase agreement with Aberdeen Property Trust for a freehold nine-storey office building in the City of London for £91 million (S$186 million), it announced in a press release. The property, located at 75 King William Street, is said to be in close proximity to Bank Junction, London's historic and financial centre. Keppel said the investment...
Qatar looked to have won a drawn-out bid to buy London's Canary Wharf on Wednesday (Jan 28) after the owner of the landmark office quarter said its main shareholders favoured a sale. The board of Songbird, which controls 69 per cent of Canary Wharf Group, appeared to concede defeat despite stressing that the offer worth £2.6 billion (US$4.0 billion) remained undervalued. "It is now the board's...
Home prices in London, popular with overseas investors including Singaporeans, fell in September for the first time in almost four years and the outlook for the British capital’s housing market is fading, the Royal Institution of Chartered Surveyors (RICS) said yesterday. RICS said its house price index for the capital dropped below zero in September for the first time since January 2011, ending a...
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