A Hong Kong stock exchange registered investment holding company has paid more than £35m for one of London’s key freehold sites.
Knight Frank, the independent global property consultancy, purchased 25-27 Oxford Street on behalf of its client Emperor International Holdings from an un-named seller.
Located on the south side of Oxford Street, next to the Tottenham Court Road Crossrail site, the property “is set to benefit from strong forecast rental growth off the back of the significant infrastructure improvements,” said Knight Frank statement.
Fully let to a range of retail and office occupiers, the 11,600sq ft building has a lower and ground floor with six office floors above.
Little is known about Emperor International Holdings, which started life in the middle of the Second World War as a Kowloon watch and clock retailer. Since then it has grown into an investment holding company, focused primarily on growing property assets, property development and self-run hotels. It currently has a 4.8 million square foot portfolio of mainland China, Hong Kong and Macau sites.
Although it is registered in Bermuda, Emperor and its subsidiaries also develop and manage a range of projects, from large-scale office buildings, shopping malls, top-end residential blocks, industrial buildings and hotels. Its £35.5m London acquisition is thought to be Emperor’s first venture beyond the Far East.
Airport Expansion will see Hotel Demand soar