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Colliers successfully advises CK Asset Holdings Ltd on the disposition of 5 Broadgate in London for £1.21 billion

Hong Kong press release London Shaman 1536x1040


HONG KONG, 14 March 2022 – 
Leading diversified professional services and investment management company Colliers (NASDAQ and TSX: CIGI) is pleased to announce that it has advised CK Asset Holdings Ltd on the disposition of 5 Broadgate in London for £1.21 billion (HK$12.390 billion).

The deal is the largest in London since the sale of the Walkie Talkie in 2017 and is the largest non-tower deal to ever take place. The transaction was delivered through cross border collaboration from Colliers experts in Hong Kong and London.

Developed in 2015 with a BREEAM ‘Excellent’ rating, the freehold Grade-A building 5 Broadgate offers 732,876 sq. ft. of office space and is fully-let to UBS AG as their London headquarters. The disposition enables CK Asset Holdings Ltd to unlock the underlying value of its investment, capture a sizeable gain and create value for its shareholders.

Shaman Chellaram, Colliers' Senior Director based in Hong Kong, said: “Colliers is proud to have acted on behalf of CK Asset Holdings Ltd for the disposition of 5 Broadgate. This significant transaction is an excellent opportunity for our client to realise their investment over a relatively short period.”

Andrew Thomas, Head of International Capital Markets | London, added: “We continue to see international capital invested into London’s quality assets, and we were delighted to help our client identify this significant opportunity and exit it effectively.”

CK Lau, Managing Director | Hong Kong, concluded: “This is a landmark deal for Colliers. It reflects our ability to close large-scale real estate transactions, especially for our clients looking to invest in and dispose of cross-border opportunities. Our global platform is structured to facilitate these kinds of deals, and I look forward to further collaboration between our experts in Hong Kong and London.”


Related Experts

Shaman Chellaram

Senior Director | Asia

Valuation & Advisory Services

Hong Kong

As Senior Director Valuation & Advisory Services Asia at Colliers, I leverage my 18-years of strategic and investment advisory experience to work closely with my clients to maximize the potential of their hotel and commercial real estate assets in Hong Kong and across key regional and international markets.  This includes acquitistion and disposal advisory,  asset repositioning,  market entry, portfolio diversification, operator selection, hotel and mixed-used development, hotel tokenisation, ESG, transaction advisory and M&A.   

Advising from both an operational and investment perspective,  my clients include hotel and resort investors, hotel operators, serviced apartment groups, co-living groups, developers, PERE funds, REITs, family offices,  private investment groups and UHNWIs. 

By understanding my clients' needs, I draw on our Colliers global platform and capaibilities to provide solutions and accelerate our clients' success, whether in Hong Kong or overseas.   

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CK Lau

Managing Director | Hong Kong & Managing Director | Asia CVAS

Managing Director's Office | Hong Kong

Hong Kong

CK Lau is the Managing Director | Hong Kong and also leads the Valuation & Advisory Services business as Managing Director | Asia.  He has over 30 years’ property experience in valuation, real estate consultancy and investment sales in Hong Kong, mainland China and the Asian region. 

His expertise includes development consultancy; government lease modification application and premium negotiations; investment and development sites sales; litigation valuation advice and expert witness in the High Court/Lands Tribunal/arbitration; portfolio valuations; REIT property advice; rental determination; and valuation due diligence services.

He writes regularly on topics relating to land use and development in Hong Kong since 2010. His collection of over 200 articles in the Hong Kong Economic Journal and other publications can be viewed through the following link:

https://lauchunkong.wordpress.com

CK is also a member in the following publications:

• “The HKIS Valuation Standards 2017 & 2020”

• “HKIS Guidance Notes on Valuation of Development Land” published in 2016

• “Surveyors acting as experts in commercial rent determinations” Joint guidance note Hong Kong prepared by the HKIS and RICS Hong Kong” 1st edition 2015

 

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