Chinese Fund Acquires St. James's Ryder Court
China Vanke snapped up a 70k SF office building, Ryder Court in central London, for £115M. The property is near Piccadilly Circus and Green Park station. The seller, UK-based Henderson Global Investors, acquired the property in 2013 for £82M, according to the South China Morning Post. The sale is the first post-Brexit deal by the fund.
China Vanke first dipped its toe into the UK property market last October when it spent £30M to acquire 20% in a Galliard Homes’ residential project.
The Crown Estate will reserve the freehold; there are 98 years remaining on the lease.
Since this summer, Chinese companies have swooped into the UK to take advantage of post-Brexit’s weak sterling. Greenland will build Europe’s tallest residential building at London Docklands and Sichuan Guodong Construction Group recently invested £60B in the city of Sheffield. [SCMP]
