Hong Kong investment holding company, Chen Hsong Holdings Ltd, has entered the UK property market with the £33.1 million acquisition of 28 Dorset Square, London from Harbert Management Corporation and XLB.
The Grade A, 23,200 sq ft office occupies a highly prominent corner site on Dorset Square, adjacent to Marylebone Station.
The RIBA award winning building was completed in 2006 and has recently undergone a major refurbishment by the tenant. The property is currently leased to Orbis Investment Advisory Ltd. The transaction reflected a net initial yield of 4%.
Colliers International advised Harbert and XLB. Savills advised Chen Hsong Holdings Ltd.