Chinese real estate boss Gordon Jianjun Zang has bought a Grade II listed office building on Old Street for £7.1m.
Jianjun Zang, who is co-president for E-House (China) Holdings, a major property advisory firm in China, has acquired 12 Old Street, EC1, from mental health charity Together UK.
Together UK has taken a short leaseback on the 8,162 sq ft property, which it currently fully occupies. The asset is highly reversionary, with local evidence to support achievable rents of more than £70 per sq ft.
Richard Susskind & Company was instructed to sell the building earlier this year for offers in excess of £6.5m. Coldwell Banker Commercial advised Gordon Jianjun Zang.
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