Hong Kong-listed Hao Tian Development Group has agreed to buy a mixed-use property in London in a share deal worth up to £130 mln (€148 mln).
The financial-services provider is to acquire 55 Mark Lane from Reignwood Europe Holdings as part of its strategy to diversify its asset portfolio, while broadening its sources of income.
The property is an office, retail and ancillary accommodation building in central London with a gross floor area of more than 161,000 sq ft (15,000 m2) and 18 parking spaces. It is now fully let to a mix of office and retail tenants, generating a net profit after tax of about £1.66 mln in 2017.
The buyer is paying a deposit of £13 mln and will pay the balance at closing, including the assumption of company debt of around £93 mln.