Gaw Capital has bought a Clerkenwell office block which it plans to redevelop into its own London office.
The Hong Kong-based fund manager, which invests on behalf of clients including Ping An and Korean funds, has bought 45-47 Clerkenwell Green, EC1, for £11m – reflecting a capital value per sq ft of £1,021.
It is the first time the 10,770 sq ft unrefurbished former warehouse has traded in more than 40 years.
Richard Susskind represented vendor Robert Hale; Noble Harris advised Gaw.
