http://www.propertyweek.com/news/offices/henderson-sells-key-west-end-office-to-vanke/5084938.article06/09/2016
Henderson sells key West End office to Vanke
6 September 2016 | By Richard Williams
TH Real Estate has made the first major sale from Henderson’s £3.9bn UK Property fund since the EU referendum in a deal that marks Vanke’s first foray into the UK’s commercial real estate market.
The fund manager, acting on behalf of the retail fund, has sold Ryder Court in London’s Mayfair to Chinese developer Vanke for £115m.
The two parties have exchanged on the deal, which represents a yield of 4.3%.
It will be Vanke’s first venture into UK commercial real estate, having built up a reputation for large-scale residential development in China.
Henderson put the 70,887 sq ft office on the market in the weeks following the Brexit vote in a bid to claw back cash lost from a surge of investor redemptions.
It also put a £220m for sale sign over Coutts HQ at 440 Strand at the same time.
Colliers International advised Henderson.
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