A Far Eastern team is the frontrunner to buy the £100m City fringe campus of Hult Business School, E1.
Estates Gazette understands Hong Kong-based Gaw Capital Partners and Chinese insurance giant Ping An have entered advanced negotiations to buy the Commercial Road campus, called Assam Place.
It is let to Hult which was founded in the US and is the world’s largest graduate business school.
A deal at just over the £100m asking price which reflected a 5.4% yield, is in play, according to London sources.
Aldgate Developments Guernsey instructed JLL to sell the development in August.
The 160,000 sq ft HKR Architects-designed development is fully let to the business school at a rent of £5.5m pa.
It comprises a 317-bed student tower, a separate block of 29 flats and 38,000 sq ft of teaching space for the school’s 1,200 students. Plans are proposed for a further 54 flats.
All parties declined to comment on the deal.
