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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.
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.”
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