The City of London’s former House of Fraser building has been snapped up by Hong Kong’s Doo family for more than £130m.
The building, which sits at 68 King William Street, EC4, is part-way through a refurbishment to transform the 97,538 sq ft premises into an office-led mixed-use site.
The Doo family’s patriarch, William Wai-Hoi Doo, is believed to have been looking to expand his personal real estate portfolio in overseas markets for some time.
He picks up the building at a significant mark-up from when Ares Management Corporation and Black Mountain Partners bought it for around £75m in 2019.
At the time, Ares partner John Ruane described the move as part of the asset manager’s plans for “hands-on value creation initiatives for well-located assets in major city centres”.
Savills advised the seller on the deal.
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