UOL spends £97m on first London development

Singapore property firm UOL has bought development site Heron Plaza in the City of London for £97 mln (€120 mln).

The site, sold by UK developer Heron International, has planning consent for a 44-storey tower, hotel, residential and retail units.

UOL will build and operate the hotel element through its five-star Pan Pacific hotel brand and was advised by Taylor Wessing.