London Investments; New Korean Entrant Invests EUR 206m In Property

London has arguably become the property investment hub of the world and has seen many foreign investors acquiring property for retail, offices and even private properties such as Marylebone property. In the latest London investments news, a new Korean entrant has invested 206 million Euro in the London property market further boosting property investment statistics. Korea’s Public Officials Benefit Association (POBA) has entered the London real estate market with an acquisition of a 21,160 m2 London office property in the City which will be utilized for various needs.

The London property investments in the city form part of a freehold City office building that features and provides offices, retail and storage accommodation situated over the basement, lower ground, ground and four upper floors of further space. The office accommodation is being let to Cooperatieve Centrale Raiffeisen Boerenleenbank BA which is part of Dutch banking group Rabobank Group and Royal Bank of Canada. The retail unit in the building is being rented to Etsu Café. As most expensive property in that specific area; Thames Court on the upper south side of the Thames, it offers views of the River below. The area has seen a boom in London property investments and this acquisition forms part of the many. CBRE Global Investors carried out and facilitated the purchase of Thames Court, 1 Queenhithe, London on behalf of its mandate with the Korean public sector pension fund. The senior director Gary Moore, head of international separate accounts at CBRE Global Investors said, ‘We were delighted to be appointed last year to manage POBA’s separate account and this is a significant acquisition for their first step into the UK investment market’.

London will enjoy further investments in the property sector with many Regents Park estate agents enjoying this sentiment, and with the up and coming Olympic Games, there is bound to be a further influx of London investments of various kinds.