South Korea’s Samsung buys City office landmark for £142m

Kasmira Jefford
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SAMSUNG SRA Asset Management, the fund management arm of the South Korean conglomerate, has made its maiden UK purchase after snapping up 30 Crown Place in the City for £142m.

The 19 storey tower, which is close to Liverpool Street station, was sold by German fund manager Hannover Leasing, who bought it in 2011 from developers Greycoat for £139m.

It is 85 per cent let by law firm Pinsent Masons and 15 per cent by office space provider Crown Place Financial.

Cushman & Wakefield Investors, who acted on behalf of Samsung, said overseas investors accounted for 71 per cent of the £2.75bn of commercial property transactions in the first quarter of this year.

“This represents Samsung’s first overseas investment and reflects the attraction of the London market to international investors as a leading financial centre and gateway city,” Cushman said.

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