Link REIT has made its first purchase in the UK following valuation advice from Colliers International.
Next month the trust, which has its home in Hong Kong and is the biggest REIT in Asia Pacific, is expected to complete on the purchase of the office complex The Cabot in Canary Wharf for £380million.
Colliers International’s Hong Kong and London based offices advised on the REIT’s purchase as it fulfils plans to diversify its portfolio. The 17-storey building has 481,605 sq feet of office space, and an annual passing rent of more than £18 million.
Martyn Munford, Head of Valuation at Colliers’ London City Office, said: “This deal shows the truly international model that Colliers operates under, being able to provide detailed valuation advice to overseas clients looking to invest globally.
“This purchase will provide further confidence for the wider central London investment market, which has an estimated £3.2billion of transactions which are under offer.”