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Ho Bee Land unit divests London property for $167 mil

Jude Chan Published on Wed, Feb 08, 2017 / 5:38 PM GMT+8

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SINGAPORE (Feb 8): Property group Ho Bee Land announced Wednesday that wholly-owned subsidiary Grandiose Investments is selling its Rose Court property in London for £94.5 million ($167.2 million).

The building, which comprises 157,144 sq ft of office and ancillary accommodation arranged over a total of 11 floors, was last revalued to £90 million in Dec 2016.

The property is currently let to the Secretary of State for Communities and Local Government until Sept 2018 at an annual rental of £4.3 million.

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