TH Real Estate has made its first UK sale since the Brexit referendum, divesting an office property in London for £115 mln (€138 mln).
The sale of Ryder Court om St James’s, from Henderson's £3.9 bn UK Property Fund, marks the debut of Chinese developer Vanke in the UK commercial real estate market.
Henderson's UK Property Unit Trust acquired the flagship Central London office in October 2013 for £82 mln. The multi-let property was put up for sale in the wake of the UK referendum to leave the EU, as redemption requests to the fund soared.
Shenzen-based residential developer Vanke is currently in the grip of a hostile takeover bid from a shareholder consortium, according to media reports.
The deal, which has already been closed, represents a 4.3% yield.
