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...
UK Property
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...
Qatar on Thursday lodged a "final offer" to buy the owner of London's landmark Canary Wharf office quarter for US$4.1 billion. Sovereign wealth fund Qatar Investment Authority and US group Brookfield Property Partners said in a statement they have increased their bid for Songbird, a property firm which controls 69 per cent of Canary Wharf Group. The cash bid, pitched at 350-pence per share, compared...
Property group UOL will embark on its first major development project in London following the purchase of a prime development site in Bishopsgate for £97 million (S$201.9 million). The Singapore-listed developer bought Heron Plaza, seller Heron International said in a statement on Thursday (Aug 14). UOL has consent to build a five-star hotel, residential and retail development that is up to 43 stories...
At least 122 billion pounds ($206 billion) in property in England and Wales has hard-to-trace ownership via companies in London property may be "haven for dirty money" offshore tax havens, the Financial Times reported in an investigation. The finding, made through analysis of Land Registry data, "raises concern that London property in particular has become a haven for dirty money from around the world"...
London's landmark 'Gherkin' office tower, one of the landmarks on the British capital's skyline, went on sale for about £650 million (US$1.1 billion, 820 million euros, S$1.37b) on Tuesday (29 July) after being placed into receivership. Property firms Savills and Deloitte Real Estate were jointly instructed to sell the 41-storey block in the city's financial district. The building looks like a glass...
The second phase of the iconic Battersea Power Station redevelopment in London is being marketed at more than twice its Phase 1 price, Malaysia’s The Star daily reported, with its Malaysian owners pulling out all the stops for the landmark site in the British capital. Launched in London yesterday, the 254 units in Phase 2 are priced at an average of £2,300 (S$4,870) per sq ft (psf), compared with...
Ho Bee Land continued its diversification into the United Kingdom by purchasing an office building that once served as London's General Post Office. The Singapore developer will pay ￡171 million (S$362 million) for the freehold property known as 1 St Martin's Le Grand, it said in a statement on Friday. "The acquisition of 1 St Martin's Le Grand is our second major office acquisition in the city of...
Singapore property investors looking to park their money in a booming overseas market should take note that London’s housing market is beginning to show “bubble-like conditions” as overseas buyers bid up prices and locals take on more debt to purchase properties, according to a report by the EY Item Club. The average London home will cost about 600,000 pounds (S$1.25 million) by 2018, the...
Despite rising interest rates and a capital gains tax to be implemented in the UK in 2015, Singaporean investors' appetite for properties in London remains strong. In addition, buyers are getting younger too. A serious housing shortage has pushed up average property prices in London by over 25 per cent over the last four years. Colliers International expects London property prices to ease over the...