Business Daily Media

Chinachem Group Confirms to make its Second Purchase in Prime London Office Building for £349.5m

HONG KONG SAR - Media OutReach - 30 January 2023 - Chinachem Group (the "Group") announced today that it has exchanged contracts for and completed the purchase of One New Street Square with UK-based REIT Landsec, a premium 276,502 sq ft office building in the heart of Central London, at a total consideration of £349.5 million, representing a capital value of £1,264 psf.



One New Street Square
One New Street Square

Completed in 2016, One New Street Square is fully let to Deloitte on a lease expiring in 2036, at a current annual net rent of £16.8m. At the point of completion, it was the first building in the world to achieve both BREEAM Outstanding and WELL Gold certification, featuring a biophilic design that incorporates 6,300 plants and 1,500 sq ft of green walls, as well as landscaped terraces and other sustainable amenities.

This is the second purchase of prime London office building by the Group in the past four months, following the purchase of the Kaleidoscope building in Farringdon in September 2022 for £158.5 million. The two buildings are less than 1km apart in an area of the City of London that is becoming a major hub for legal, TMT and other multinational businesses.

"We're delighted to have acquired One New Street Square as it is located in the strategic Central London area offering best-in-class building specifications and attractive returns." said Chinachem Group's Executive Director and CEO Donald Choi. "This is an important step forward for the Group and we intend to hold the property as a long-term investment.

"While Hong Kong will remain our home, and our core market, we intend to incrementally increase the Group's exposure in gateway cities of major international markets, so as to fulfil our business diversification objectives and build a resilient, long-term income stream."

Hashtag: #Chinachem

The issuer is solely responsible for the content of this announcement.

Chinachem Group

Since 1960, Chinachem Group has been a leading property developer in Hong Kong, with a portfolio covering residential, commercial, retail and industrial buildings for sales and investment, in addition to operating hotels, property management as well as healthcare and elderly services. The Group actively seeks to make a positive contribution to society through its adherence to the "Triple Bottom Line", a commitment that its activities will benefit People, bring Prosperity to the community and preserve the Planet. Please visit

News from Asia

Coda Bridge and StraitsX Collaborate on Blockchain-Powered Charity Initiative to Support Singapore’s Disadvantaged Communities

HONG KONG SAR - Media OutReach Newswire - 26 November 2024 - Coda Bridge, a pioneering Hong Kong-based blockchain platform provider known for its charity project that leverages blockchain technol...

Deleted

This Press release has been killed

Pioneering Collaboration: Over 300 Listed Companies Unite for Sustainable Growth in the GBA

The Guangdong-Hong Kong-Macao Greater Bay Area Listed Companies Summit 2024 Unveils the “Hong Kong—Best Headquarters Choice for Greater Bay Area Listed Companies” Initiative Empowering Mainland Ent...

Hoa Sen Home emerges as Vietnam's leading building materials & furniture supermarket chain

HANOI, VIETNAM - Media OutReach Newswire - 26 November 2024 - Hoa Sen Home has established itself as a leader in Vietnam's rapidly growing building materials market. As the official distributor of...

HKDPB announces key findings of "Hongkongers’ Sense of Security on Savings" Survey for the seventh consecutive year

Hongkongers’ average monthly savings soar to HK$9,800, while pre-retirees need HK$5.45 million to retire with sufficient “sense of security” HONG KONG SAR - Media OutReach Newswire - 26 November...

UFC® FIGHT NIGHT MACAU hosted by Galaxy Macau Heated Up the Galaxy Arena

A 360° Experience and A Night of Thrilling Action for UFC Fans MACAU SAR - Media OutReach Newswire - 26 November 2024 - Galaxy Macau™ was proud to host the return of UFC®, the world's premier Mixe...

SepPure Cuts Emissions and Costs with Solvent Recovery Technology

NEW YORK, US - Media OutReach Newswire - 26 November 2024 - From pharmaceutical manufacturing to petrochemical refinement, many industries utilize solvents for various processes, such as synthesis...

Bulgarian president urges VinFast to soon sell electric cars and invest in production in Bulgaria

HAI PHONG, VIETNAM - Media OutReach Newswire - 26 November 2024 - November 26, 2024, the President of the Republic of Bulgaria, H.E. Rumen Radev, along with a high-ranking Bulgarian delegation, v...

Linkin Park "From Zero World Tour" to Perform in Jakarta on 16 February 2025 as The Only Show in Southeast Asia

JAKARTA, INDONESIA - Media OutReach Newswire - 27 November 2024 - Live Nation, TEM Presents, and PK Entertainment are thrilled to bring LINKIN PARK back to Jakarta for their highl...

SM Investments Corporation Wins Top Sustainability Advocates in Asia and Asia’s Most Influential Companies at ACES Awards 2024

BANGKOK, THAILAND - Media OutReach Newswire - 27 November 2024 - SM Investments Corporation ("SM Investments"), one of the largest and most diversified conglomerates in the Philippines, has been h...

Property peak urges re-elected Government to renew focus on real estate sector

The Real Estate Institute of Victoria (REIV) welcomed the Andrews Government’s Cabinet announcement today, congratulating The Hon. Danny Pearson M...

Property

Living in Central Coast NSW: Pros and Cons

Central Coast NSW is one of the most beautiful regions in Australia, with stunning beaches, national parks, and a laid-back lifestyle. However, li...

Property

Liked and shared: How social media can elevate your customer experience

Don’t neglect this golden opportunity to connect with customers and win mind and market share. Is social media central to your business developme...

Business Training

Sydney’s Priciest House Sales Revealed

As property prices start to cool off you might read the doom and gloom news and hesitate on your property sale. While property movements and pric...

Property

Four ways SMBs can optimise managed print success through ERP integration

In the field service industry, many Australian small and medium-sized businesses (SMBs) offer tailored managed print services (MPS). These compani...

Business Training

More training for coffee making than property sales: REINSW

Sydney 9 May 2016. An overhaul of education and training standards for the real estate profession must take place to help prevent illegal activities, ...

Business Training