Singaporean investor buys Soho office in £35m London debut

HE Capital has bought Hong Kong investor Lai Wing-To’s 147-155 Wardour Street, W1, for around £35m. The Singaporean investment manager’s acquisition of the six-storey, 27,123 sq ft building is the first venture into the London market for its new £200m London-focused fund. The company is planning further international expansion to cities including Tokyo, Melbourne and Paris. Imran Ellahi, chief investment officer at HE Capital, said: “This purchase affirms our intention to actively invest into the London market where we feel there are significant opportunities. “Our investment strategy is targeting London, where pricing has rebased quickly, eventually expanding to other gateway cities that are slightly lagging behind the London market.” The deal, which reflects a 6% yield, marks an active summer for Wing-To, who also sold a 26,121 sq ft building at 291 Oxford Street and 2 Harewood Place, W1, to JP Morgan last week.  The two buildings were part of Wing-To’s Trinity portfolio of assets, put up for sale through agents JLL earlier this year, with only Standbrook House at 2-5 Old Bond Street, W1, remaining. Together the three assets were expected to sell for a combined £260m, with £106m collected so far. Standbrook House was under offer for around £170m to luxury Swiss watchmaker Richard Mille last year before the deal collapsed. BNP Paribas Real Estate and DLA Piper advised HE Capital; JLL acted for Lai Wing-To. See occupational sale comparables for London W1 >> Photo © BNP Paribas Real Estate