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More Chinese Poised to Enter London Real Estate Market
Brief:More and more Chinese investing in Britain real estates, and Chinese state funds have invested via UK-based investment managers in London.
Asian investors accounted for 37% of deals - or £1.7 bn - in the City of London and Docklands in the second quarter, up from 28% in the first quarter, according to Bill Tyser, head of City investment at Cushman & Wakefield. In the last quarter alone, deals include Samsung SRA’s acquisition of 30 Crown Place, EC2 from Hannover Leasing for £142 mln and Malaysian fund KWAP’s acquisition of 88 Wood Street from fellow Malaysian fund NPI for £183 mln.

Between June 2012 and June 2013, Chinese investors acquired 16 properties in the City of London and the West End, totalling £1.58 bn, according to Cushman & Wakefield.

Chinese state funds have invested via UK-based investment managers in London. For instance, AXA Real Estate Investment Managers - which has a strong presence in London - acted for a consortium of one European and two Asian investors in the acquisition of the Ropemaker Place office building in the City for £472 mln (€540 mln) last March. While the investors were not named, market sources say one was Gingko Tree Investments, a subsidiary of Chinese sovereign wealth fund SAFE.

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