Hoi Hup Realty Acquired S$ 163.7m Commercial Building in the City of London

Singapore’s dynamic property developer Hoi Hup Realty has acquired the 106,892 sq ft commercial building at 1 Golden Lane in the city of London for GBP 77 million (S$ 163.7 million), Colliers International reported on 27 July.

According to Mr Terrence Tang of Colliers International, property investors are progressively checking assets for bond-like investment instruments like 1 Golden Lane, as they produce net yields of approximate 5 to 6% for a long term tenancy.

Colliers International added that commercial building in London will provide healthy income with a stable investment-grade covenant to Hoi Hup Realty. However, the said building may possibly be converted from commercial use to another usage, like residential.

Singapore Property with imaginative designs and luxurious interiors are the signature mark of Hoi Hup Realty, including Sophia Hills Residences and Whitley Residences.