INDUSTRY NEWS

Gaw Capital and South Korean group acquire London office building

Gaw Capital subsidiary, Downtown Properties Inc., and a group of South Korean investors have completed the acquisition of a London office building in Blackfriars.

According to a statement given by the Hong Kong-based fund manager the consortium of South Korean investors includes the Korean Teachers’ Credit Union and the Korea Federation of Community Credit.

Located right at the heart of the City of London’s financial district, the purchase price for 68 Upper Thames Street hasn’t been disclosed. Measuring 277,270 sq ft, the building is currently occupied by a number of tenants including Thomson Reuters.

Meanwhile, documents filed with the Land Registry have shown that the property was previously owned by Luxembourg-based Vintners Propco Sarl.

Following the purchase, managing principal at both Gaw Capital and Downtown Properties, Goodwin Gaw, stated: “We have always viewed London, New York and Hong Kong as the three global gateway cities were international capital flows.

“Assets trade at a liquidity premium,” he added.

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