British Land announces that it has exchanged contracts for the sale of 39 Victoria Street, SW1 to Singaporean property company Ho Bee Land for a gross purchase price of £144 mln (approx. €203.4 mln). Ho Bee Land is quoted on the mainboard of the Singapore Exchange and owns assets in London including 1 St Martin’s Le Grand, 60 St Martin’s Lane, and Rose Court.
39 Victoria Street is a 10 storey office building, totalling 98,000 ft² (approx. 9,100 m²) including retail space on the ground floor. It was acquired by British Land in 2009 for £40 mln (€56.5 mln) and was substantially refurbished in 2013. It is let in its entirety to The Corporate Officer of The House of Commons until September 2029 with a break in July 2026 at a total rent of approx. £6 mln (approx. €8.5 mln) per annum.
Mayer Brown and Knight Frank acted for British Land.
Source: British Land