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http://www.propertyweek.com/news/hong-kong-buyer-swoops-on-35-berkeley-sq/5076695.article

18/09/2015

Hong Kong buyer swoops on 35 Berkeley Sq

Green Property has sold a prestigious building on Berkeley Square that was formerly owned by convicted fraudster Achilleas Kallakis.

35 Berkeley Square, London

Property Week understands Hong Kong developer Wing Tai Properties has bought the long leasehold of 35 Berkeley Square for £19.55m at a yield of 2.5%.

The 12,644 sq ft building was part of a portfolio of Kallakis assets purchased by Green from Allied Irish Bank for £650m in 2008. There are now only two assets remaining: 8 St James’s Square and India Buildings in Liverpool.

Built in 1742, 35 Berkeley Square was one of the first residences on the square, and one of the last remaining original buildings. Green re-geared the Grosvenor head lease late last year, achieving a new 125-year lease at a peppercorn rent.

The six-storey building is multi-let to eight occupiers until December this year, including Green Property, which has its UK HQ in the office.

It is understood that Wing Tai Properties will retain the building as a long-term multi-let office property.



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