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UK Commercial Property Chinese Safe Haven
Brief:The UK commercial property market has been dubbed a ‘safe haven’ for Chinese investors following President Xi Jinping’s visit in October last year.
The UK commercial property market has been dubbed a ‘safe haven’ for Chinese investors following the President’s state visit in October last year, with Chinese investment into UK real estate expected to exceed 2015 levels over the coming year.
Between the beginning of 2016 and the 29th February £560.3 million of Chinese transactions have been made in the London market. Poly Real Estate, a state-owned Chinese real estate investor, recently completed its first London purchase in the acquisition of Ludgate West, 5 Fleet Place. Another key investment was China Overseas Land and Investment’s purchase of the Helicon Building, South Place, for £145 million.
As part of last year’s state visit, Chinese President Xi Jinping visited Manchester, leading to David Cameron announcing that the North of England would create new partnerships with China.
Head of an international property agent, Rasheed Hassan, commented: ‘Although there is a significant amount of capital chasing London real estate, with a finite level of supply, there are still a number of assets available which offer an attractive yield profile. Long-term income streams, redevelopment opportunities and mixed-used schemes entering the market provide a variety of return profiles which in turn attract an array of investors. In addition, the profile of the investors we’re seeing enter the market includes Chinese developers who are seeking higher returning development opportunities, targeting mixed-use and residential led schemes, rather than core assets within London.’


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