SOURCE: Colliers International

July 28, 2015 00:53 ET

Colliers International Advises Singapore Developer, Hoi Hup Realty, on First Overseas Purchase in the City of London, UK

First Overseas Purchase of Grade A Commercial Property in London's Financial District

SINGAPORE--(Marketwired - July 28, 2015) - A global leader in commercial real estate services, Colliers International (NASDAQ: CIGI) (TSX: CIG) has advised a key Singapore developer, Hoi Hup Realty, on its maiden overseas real estate acquisition -- the purchase of a commercial building in City of London for GBP 77 million (USD 120 million).

The building, which has approximately 106,892 sq ft of Grade A office accommodation, is located at 1 Golden Lane, City of London. Currently, the property is single let to a leading global investment bank, UBS AG, with an 11-year lease.

Mr Terence Tang, Managing Director, Capital Markets and Investment Services | Asia, says, "London is currently one of the hot destinations for Asian investors looking to diversify their portfolio and expand their global reach. Investors are increasingly viewing assets, like 1 Golden Lane, as bond-like investment instruments, as they generate attractive net yields of around 5-6 per cent over a long tenancy period."

He continues, "We are delighted to represent Hoi Hup Realty and congratulate the company on its first significant property investment overseas. This deal is a significant win for Colliers. It clearly demonstrates the value of our integrated global capital markets platform. Our Singapore and London Colliers teams have closely worked together to advise and identify the property in accordance to the client's investment criteria, and successfully structured and negotiated this investment deal."

1 Golden Lane is strategically located at the gateway of Farringdon, London's Tech City cluster and the City of London. The asset will provide Hoi Hup Realty with a stable income with a strong investment-grade covenant. Subject to approval from the relevant authorities, there may also be a possibility to convert the building from commercial use to other usage, such as residential, if the new owners intend to explore.

About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 10 consecutive years, more than any other real estate services firm.

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Contact Information

  • For further information, please contact:

    Ms SEAH Li Ching
    Senior Manager
    Marketing & Communications
    Colliers International
    Phone: +65 6531 8545
    Mobile: +65 9382 6978

    Mr Terence Tang
    Managing Director
    Capital Markets & Investment Services | Asia
    Colliers International
    Phone: +65 6531 8565
    Mobile: +65 9633 9978