Published:
Ho Bee acquires fourth London office property for $307m
It’s currently leased out at $13m per year.
Ho Bee Land has acquired an office building known as 39 Victoria Street for $307m (£144m). This is its fourth major office acquisition in London.
The property is a 10-storey office building, totalling 98,000 square feet including retail space on the ground floor.
It is currently let in its entirety to The Corporate Officer of The House of Commons until September 2029 with a break option in July 2026.
The total rent is approximately $13m (£6m) per annum. The rental reviews will be on a five yearly upward basis only. The annual rent reflects a net initial yield of 4.1%.
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