SHOKAI UK has exchanged contracts for the sale of Fleet Place House, London, EC4 with M&G Real Estate who are acting on behalf of an Asian institutional client.
SHOKAI UK was established in 2015 and is part of the SHOKAI group, also known as Beijing Capital Development Holdings (BCDH), one of China’s leading real estate and urban infrastructure developers. The UK portfolio includes total assets of over £400 million.
SHOKAI UK Managing Director, Shawn Xiaoyang Zhang said “This deal represents a significant milestone in our UK business strategy. We have been able to deliver excellent returns despite the current market challenges and we are now able to pursue new development and investment opportunities within London as we expand our UK portfolio”.
Fleet Place House is a prominent office and retail development situated close to the new Crossrail station at Farringdon. The property comprises approximately 92,000 sq ft. (8,547 sq m) over nine floors and is let to two retail tenants and four office tenants, which include the London HQ of Just Eat.
Development and Investment Director Antony Kingston said “Since purchasing Fleet Place House in 2016 we have delivered a number of successful asset management initiatives, improving both the asset and the income profile, driving income growth and delivering very attractive returns for our investors”.
SHOKAI UK is advised by Savills and CMS, while M&G Real Estate are advised by CBRE and Hogan Lovells.