International accountancy firm KPMG has inked a sale and leaseback deal with Hong Kong's Kingboard Investments for its London headquarters, 15 Canada Square in Canary Wharf, for £400 mln (€454 mln).
Kingboard Investments is a wholly owned subsidiary of Kingboard Chemical Holdings, a Hong Kong based investor. KPMG will continue to occupy 15 Canada Square, which comprises 434,261 ft2 (40,328 m2) and is located next to the new Crossrail station in Canary Wharf. The firm will enter into a 25 year lease when the deal completes in January.
'We received strong interest from global investors seeking to benefit from a favourable exchange rate and acquire prime assets in London,' commented Philip Davidson, managing partner at KPMG UK. 'The deal has enabled us to capitalise on the rising property market and invest further in new technology to benefit our clients.'
Jones Lang LaSalle acted on behalf of KPMG as agent during the sales process. Savills advised Kingboard Investments.
Eversheds were KPMG’s solicitors and BLP acted for the buyer.
