British Land announces sale of London office building

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DEVELOPER British Land has announced the £144 million sale of an office building in London’s SW1.

The buyer of ten-storey 39 Victoria Street is Singaporean property company Ho Bee Land. The building, bought by British Land in 2009 for £40 million, is let in its entirety to the House of Commons.

Tim Roberts, Head of Offices at British Land, said:

“39 Victoria Street has been a good investment for us and is an excellent example of how we do business. Our refurbishment delivered a high quality building and attracted a high calibre occupier on a profitable lease.

“The timing of the disposal allows us to benefit from strong investment markets, and to allocate capital most appropriately across our business.”

Other properties owned in London by Ho Bee Land include 1 St Martin’s Le Grand, 60 St Martin’s Lane and Rose Court.

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