Korea’s National Pension Service is buying the Goldman Sachs European head office building for £1.165 billion (around $1.5bn), four years after it sold its investment in HSBC’s headquarters building in Canary Wharf. That sale netted them around $0.5bn in gains.
“We are excited to re-enter into the London market with this high quality asset which is well-aligned with our defensive strategy and will be an excellent addition to our already strong core portfolio. This is one of the finest office buildings in London, which will be let to an exceptional tenant for 25 years,” commented Scott Kim, the head of global real estate at the NPS.
The transaction is the largest single investment transaction in the UK this year.