Singaporean developer-investor goes to town in London's Covent Garden

Singaporean developer-investor Ho Bee Land has acquired an office and retail asset in the West End of London for £43.9 mln (almost €56 mln).

Ho Bee Land, acting through its subsidiary HB St Martins, agreed to acquire 60-62 St. Martins in the Covent Garden district of the West End from St Martins Property Limited on 24 October.

Law firm McGuireWoods advised the vendor.

It is the second time in the last three years that McGuireWoods has been involved in negotiating the sale of the historic property. McGuireWoods represented St Martin Property when it acquired the building in February 2012 for about £37 mln.

The property includes a prime office and retail building that was comprehensively redeveloped in 2011 and is fully leased through 2026. The adjacent building has four self-contained and privately accessed residential apartments that are under long-term leases.

Ho Bee Land Limited was represented by Mayer Brown with Martin Wright as lead partner and associate Danielle Gerber.

McGuireWoods is a full-service law firm with more than 900 lawyers in 20 offices worldwide.