Uncertainties: Investment Officer and Building

uncertainties: Blackstone acquired the building for 320m in 2014, with reports suggesting it might sell for as much as 430m, according to The Guardian. The short-term uncertainties surrounding Brexit have presented us with opportunities to acquire assets with deep value, said Frank Khoo, the group chief investment officer at CDL. The 27-storey building, close to the Bank of England, is CDL's second deal in London this year after a 183m transaction for Aldgate House in September. The Singapore-listed City Developments Ltd, which is chaired by the billionaire businessman Kwek Leng Beng, has bought the freehold building at 125 Old Broad Street from the US-based private equity group Blackstone. We have confidence in the long-term fundamentals of London as a global financial hub with a robust office market, Khoo said. Andrew Hawkins, an international partner at Cushman & Wakefield, said CDL had snapped up the building without any rival bidders, securing it at an attractive price . Foreign investors have shown strong interest in the London commercial property market in the past 18 months. The former Stock Exchange Tower is home to tenants including the law firm King & Spalding, China International Capital Corporation and the property agents Cushman & Wakefield, who advised CDL on the deal. (news.financializer.com). As reported in the news.