The Hong Kong-based company, Kwang Hing International, has paid Arlington Property Investors £32m for Centurion House on Monument Street in the City of London.
The 62,000 sq ft building is let to Nomura for another five years and generates an annual rent of £2.9m. The deal reflects a yield of 8.6%.
KHI is run by Adrian Fu, the investor who was part of a syndicate which last year backed Hilstone Corporation’s unsuccessful £203m bid for St Katharine Docks. Fu’s last exposure to the City market ended in 2001 when he sold Earl Place, 15 Appold Street, EC2, to Commercial Union for £50m.
Knight Frank acted for Arlington. Morgan Pepper and Hill Capital represented KHI.