Caixin
Mar 15, 2022 08:29 PM
BUSINESS

Hong Kong’s Richest Man Sells $1.5 Billion London Office Tower

Victor Li is the current chairman of CK Asset and Li Ka-shing’s eldest son. Photo: VCG
Victor Li is the current chairman of CK Asset and Li Ka-shing’s eldest son. Photo: VCG

A billion-pound central London office tower has become the latest British asset disposed of by Hong Kong’s richest man, after a local subsidiary of Li Ka-shing’s CK Asset Holdings Ltd. sold the 5 Broadgate complex for a 45% return on investment.

A subsidiary of South Korea’s public pension fund paid CK Steel (UK) Ltd. 1.2 billion pounds ($1.56 billion) for the block, purchased for 1 billion pounds three and a half years ago, according to a Friday exchange filing. CK Asset’s calculation of the return included rental income and hedging profits.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST