German open-ended fund manager Deka Immobilien has completed on the sale of Christ Church Court at 15 Newgate Street in London in an off-market transaction to Hong Kong-based investor Hui Wing Mau.
German open-ended fund manager Deka Immobilien has completed on the sale of Christ Church Court at 15 Newgate Street in London in an off-market transaction to Hong Kong-based investor Hui Wing Mau.
The price was not disclosed but in a report in May, DTZ put the price at £270 mln (€374 mln). Deka acquired the building from Prudential in November 2013 for nearly £200 mln.
The deal is the first UK investment made by r Hui Wing Mau, who is the owner of Shimao Property (SEHK:813), one of the largest property developers in China.
The office building, located on Paternoster Square, totals approximately 303,000 sq ft (28,150 m2) and is let in its entirety to Goldman Sachs until 2025, subject to a tenant break option in 2020.
The vendor was represented by joint agents Savills and CBRE while the buyer was represented by BNP Paribas Real Estate.