Money from Hong Kong, where property investors are spooked by political protests, will be used on a £81 million purchase of an office block in the Square Mile, it emerged on Wednesday.
Property investor Goldstone Commercial, backed by Hong Kong capital, has agreed to buy the Forum building, which overlooks St Paul’s Cathedral, from Aviva Investors. It is situated between Gresham Street and Cheapside.
The 65,000 square feet building was revamped in 2017 and is now fully-let to tenants including law firm Carey Olsen. The new owner will get steady rental income.
Agents Knight Frank and Savills brokered the deal which comes two months after West End and City property advisers started reporting new spikes in enquiries for London buildings from Hong Kong investors.
The interest comes as buyers look for safe havens away from widespread protests in the former British colony over a proposed bill permitting extraditions to mainland China.