INDUSTRY NEWS

Hong Kong property giant joins international scramble for London office space

Two key London property holdings belonging to global investment group Goldman Sachs are courting interest from a powerful property company based in Hong Kong, China, reports business news agency Bloomberg.

The firm, controlled by billionaire Joseph Lau, is eyeing Peterborough Court and Daniel House on Fleet Street, which were made available last month for no less than £300 million ($490 million).

A spokeswoman for the Chinese company reported that it is ‘very interested in buying the Goldman Sachs buildings in London.’

The buildings are central to Goldman Sachs’ London office space portfolio, forming a part of the financial group’s European headquarters. Their sale would leave the company with only two office buildings in London.

This impending deal is indicative of the recent renaissance noted in the London property market. After the financial crisis, the UK capital was one of the first cities to see resurgence in the real estate market. In 2010, London commercial property sales were higher than those of any other city in 2010, according to financial research firm Real Capital Analysts.

Commercial property news brought to you direct from DeVono Cresa, experts on London office space.

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