Ho Bee Land is closing in on £200m of West End offices to add to its portfolio of City and South Bank assets.
The Singaporean investor is under offer to buy Sellar Property’s headquarters at 110 Park Street, W1, from Aberdeen Asset Management for around £47m – a 4.1% yield.
The 27,000 sq ft block was put up for sale through Strutt & Parker in June with an asking price of £44.5m.
The acquisition follows confirmation that Ho Bee has agreed to buy British Land’s 39 Victoria Street, SW1, for £144m – a 4.3% yield.
The 98,000 sq ft block is let to the corporate officer of the House of Commons until 2029.
Ho Bee made its UK debut with the acquisition of Rose Court, SE1, in 2013 and followed it up with the purchase of 1 St Martin’s Le Grand, EC1, last year.
It has been seeking to acquire in the West End for several months.
The company narrowly missed out on buying 95 Wigmore Street, W1, from Great Portland Estates in April. The building was bought by UBS Global Asset Management on behalf of the Taiwanese family behind Fubon Group for £222.4m.
Knight Frank advised on the sale of 39 Victoria Street.
