Emperor International announced that it has acquired Ampersand building, a mixed-use building comprising retail spaces, office premises and leasehold apartments, at 111-125 Oxford Street, 178 Wardour Street and 15 Hollen Street, London, at circa. €303m (£260m), equivalent to approximately (HK$2,561m).
Ampersand Building is a freehold 7-storey mixed-use building with a total floor area of approx. 90,999ft². Situated in one of the hotspots in London, it is located in prime retail and vibrant Soho office of the West End. The acquisition is expected to be completed on 14 June 2017.
Mr. Donald Cheung, Executive Director of Emperor International, said, “With three street frontages, Ampersand Building is an iconic premises featuring a fascinating combination of modern and heritage elements. On one hand, the building preserves the 18th century façade facing Oxford Street, and on the other hand its Soho style office floors embrace contemporary concepts with exceptional floor to ceiling heights.”
Mr. Cheung continued, “In line with our strategic focus, the acquisition presents a rare opportunity to purchase a quality asset which is perpetually attractive to retail and office tenants, on a whole block basis, at a prominent street in the world-renowned cosmopolitan city. This also enables us to strengthen our presence in London and diversify our property portfolio geographically. We believe that Ampersand Building will provide a solid rental income stream with long-term upside potential, which can be realised through active asset management.”
