Sale of Lloyd's of London building to Ping An heralds wave of Chinese investment
Tuesday 09 July 2013
Around 4,000 City workers now have a Chinese landlord after the Lloyd's of London building was snapped up by the Chinese insurer Ping An for £260m today.
The "inside-out" building – designed by Richard Rogers and let to Lloyd's until 2031 – is the first major acquisition by a Chinese insurer in the UK, but the deal could trigger a flood of purchases as a wall of Chinese money heads for the London property market.
Humbert Pang, the Chinese head of Ping An's adviser, Gaw Capital Partners, said: "As an active player in the real estate market in China, Gaw Capital Partners is seeing more opportunities to assist Chinese institutional investors going overseas." The building was previously owned by Germany's Commerzbank, which paid £231m in 2005.
London is also in line for another skyscraper after the developer Brookfield struck a joint venture with the residential specialist Concord Pacific. The two will bring forward the 50-storey residential tower planned at Principal Place on the fringes of the City.
Hundreds arrested as Canadian police smash worldwide paedophile ring
Ja Rule forced to deny leaving wife for prison cell mate
Nelson Mandela: 11 inspirational quotes to live your life by
More than 200 flights delayed and cancelled at Heathrow as air traffic control problem affects airports across Britain
Crash pilot who threatened Ukip leader Nigel Farage found dead
- 1 Hundreds arrested as Canadian police smash worldwide paedophile ring
- 2 Is this the scariest advert ever? Japanese tyre commercial comes with its own disclaimer and health warning
- 3 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 4 A forgotten episode in Russian history leaves links with the Philippines
- 5 People will try to reduce Mandela to a lilting reggae tune about ‘love’. They will fail
- < Previous
- Next >
iJobs Money & Business
£80000 - £100000 per annum + benefits + bonus: Harrington Starr: Project Manag...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£30000 - £40000 per annum + Bonus and Benefits: Harrington Starr: A global Con...
£150 - £250 per day: Cornwallis Elt : iPhone Rollout- Blackberry Enginee...