Ho Bee buys two office buildings in London for S$210 million

Mr Chua Thian Poh, Chinese community leader and chairman of Ho Bee group.
Mr Chua Thian Poh, Chinese community leader and chairman of Ho Bee group.PHOTO: ST FILE

SINGAPORE - Property group Ho Bee Land has added another London office property to its growing portolio of British investments.

Located at Wellesley Road in Croydon, London, the freehold property known as Apollo House and Lunar House cost Ho Bee £99 million (S$210 million), the firm said in a statement on Tuesday (Dec 1).

The property comprises two office buildings of 20 storeys and 22 storeys, providing a total of 441,797 sq ft of office space.

The buildings were constructed in the late 1960s and underwent a phased refurbishment programme in 1995 and 2000.

The current tenants on the site is the British government, which is on a lease till June 2023.

Ho Bee said in a statement on the Singapore Exchange that it will collect rent of £5.521 million per annum.

Earlier this year, Ho Bee bought two office properties in London over a span of two weeks between late July and early August.

In July, it paid £144 million for a 10-storey office building along Victoria Street. It soon followed up by buying a five-storey building along Park Street for £45.8 million in August.