Taiwan-based insurer Fubon Life Insurance will pay £348.8m to buy the site of the Madame Tussauds waxworks museum in London from Secure Income REIT.
The Marylebone Road site comprises 2,833m2 of land and 10,898 m2 of building space. The museum has 27 years of its lease to run, and has an option to extend that by a further 70 years. It pays annual rent of £15.5m.
The deal is Fubon’s third in London and comes after the Taiwanese government changed the rules regarding insurers investing in foreign assets.
