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http://www.propertyweek.com/news/offices/chinese-firm-buys-in-canary-wharf/5076381.article?origin=PWbreakingnews

01/09/2015

Chinese firm buys in Canary Wharf

HNA Group has exchanged contracts to purchase the headquarters of Thomson Reuters.

30 south colonnade

The Chinese conglomerate, which is among the top 500 companies in the world, has agreed a deal with German fund KanAm Grund to buy 30 South Colonnade.

It was put up for sale in May through agents at CBRE and JLL at a guide price of £215m, a yield of 5.5%.

The 305,000 sq ft building is let to news and information provider Thomson Reuters until 2020 at an annual rent of £11.9m, reflecting a rent of just over £40/ sq ft.

KanAm bought the 10-storey office block for £185m in 2006 for the KanAm Grundinvest fund and is selling as part of its liquidation strategy.

HNA Investment Holding, which has acquired the building, is a wholly owned subsidiary of the HNA Group and is active in project investments, asset management, fund management and the trust business. It serves as an operational platform for the HNA Group and for diversified financing operations.



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