A Singaporean investor has closed on six apartments at One Bishopgate Plaza for close to £10 mln (€11.50 mln).
The deal was brokered by Knight Frank, working across four divisions, including the Singapore Private Office, City and East New Homes, Aldgate Lettings & Completions and Interior Services.
According to the property advisor, the three one-bedroom apartments and three two-bedroom apartments at One Bishopsgate Plaza were sold and subsequently let within a week, with tenants due to move in imminently.
Logan Cordy, London international project sales partner at Knight Frank, said: 'The recent bulk deal at One Bishopsgate Plaza is testament to the confidence in the London residential market. The development’s central location with world-class amenities is proving popular with investors looking to capitalise on the current currency play.'
Developed by UOL Group and Stanhope PLC, One Bishopgate Plaza is a tower development located in the City of London, comprising private apartments above the first European Pan Pacific Hotel. All 160 apartments, which form the Sky Residences, are positioned on levels 21 to 41, giving them views of the City and beyond, with a dedicated amenities floor on level 20.
Located on the 22nd, 23rd and 25th floors respectively, the apartments sold and let by Knight Frank cover 640 to 950 sft2 and feature a bespoke design.
Knight Frank said the transaction represented its first investment deal with the Singaporean buyer, while the homes were leased to several international C-suite tenants working in the capital.
Jennifer King-Neary, head of Aldgate & The City Lettings at Knight Frank, added: 'We are continuing to experience robust demand for luxury lifestyle developments in the Capital from both international and domestic corporate tenants.
'The ‘race to rent’ is putting an upwards pressure on rental levels and has accelerated the speed to offer process, with all of these apartments being let in record-breaking time and achieving in excess of the original expected rental values.'
