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News Release


Leading Chinese Real Estate Company Poly Real Estate Group Co Ltd completes debut UK acquisition

LONDON 13 January 2016 -  Leading Chinese real estate company, Poly Real Estate Group Co Ltd, has completed its first UK property acquisition with the purchase of 5 Fleet Place, London EC4 for circa. £145million. 

5 Fleet Place is a freehold building, developed in 2007 by British Land, and provides approximately 130,000 sq ft of Grade A office and retail accommodation. The building is multi-let with the principle tenant being law firm, Charles Russell Speechlys.

Poly Real Estate Group Ltd, listed in Shanghai Stock Exchange since 2006 (SH 600048), is one of the largest Chinese property developers and investors, with a footprint covering 70 cities including Sydney and Melbourne, Australia.

Mr Arthur Wang, Head of International Business, Poly Real Estate Group said: “Poly is delighted with the acquisition of 5 Fleet Place as our first UK investment. We have a solid confidence as well as a long-term business plan in UK which will be along with the future development plan on both city and nation levels, and will commit to produce continuous benefit to clients, business partners and UK society."

Poly Real Estate Group was advised by JLL.

Eric Pang, head of UK China Business Group at JLL “with this transaction, Poly has acquired a Grade A office building, with a highly reversionary rental profile in an area of the City which will benefit significantly from existing local development activity and the completion of Crossrail in 2018.”