A company controlled by the Shaw Foundation has gone under offer to buy 88 Wood Street, EC2, from Malaysian pension fund Kumpulan Wang Amanah Pencen for £270m – a 4.6% net initial yield.
The Hong Kong-based foundation is the philanthropic arm of the late media mogul Sir Run Run Shaw, whose film studio oversaw the production of cult films including The Legend of the Seven Golden Vampires (1974) and Blade Runner (1982).
It is understood to be the foundation’s second investment in the capital.
The 17-storey building, designed by Richard Rogers, was bought by KWAP, Malaysia’s second-largest pension fund, in 2013 for £215m, an initial yield of 5.8%.
Cushman & Wakefield is acting for KWAP; Knight Frank is representing the Shaw Foundation.
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