China’s Poly Real Estate Group Co.Ltd. has acquired a Grade A office building , its first UK real estate ,in 5 Fleet Place, London for GBP 145million, according to the JLL blog report.
Poly Real Estate Group Ltd., listed in Shanghai Stock Exchange since 2006 (SH 600048), is one of the largest Chinese property developers and investors, with a footprint covering 70 cities including Sydney and Melbourne, Australia.
“Poly is delighted with the acquisition of 5 Fleet Place as our first UK investment,” said Arthur Wang, Head of the Group’s International Business. “We have a solid confidence as well as a long-term business plan in UK which will be along with the future development plan on both city and nation levels, and will commit to produce continuous benefit to clients, business partners and UK society.”
Developed by British Land in 2007, 5 Fleet Place is a freehold building, with approximately 130,000 sq ft of Grade A office and retail accommodation. The building is multi-let with the principle tenant being the law firm, Charles Russell Speechlys.