The Group has acquired the Headquarter of United Kingdom Prudential Regulation Authority at approximately HK$1.5 Billion

2016-11-08

SEA Holdings Limited (“The Group”) ( Stock Code：251) is pleased to announce that on 7 November 2016, has acquired a Commercial Property known as 20 Moorgate, London, EC2R 6DA, for a total consideration of approximately £154 million (approximately HK$1,491 million).

Prime Located at the Heart of London with Sustainable Rental Yields

The Property is a seven-storey office building and located in the heart of London, being less than 100 metres north of the Bank of England. The Property provides approximately 154,854 square feet (approximately 14,386.3 square metres) of Grade A office, retail and ancillary accommodation arranged over lower ground, ground and seven upper floors.

The Property is fully let to two tenants under long term lease agreements. The office accommodation is occupied by the Prudential Regulation Authority (a regulatory body of the Bank of England) until 30 June 2027 and the sole retail unit is let to a famous Food & Beverage Group, Fuller, Smith & Turner Plc, until 24 December 2039. The Acquisition represents a net initial yield of 4.4%.

Excellent Opportunity to Enrich the Group’s Portfolio

The Group considers that the Acquisition would enable the Group to achieve a reasonable return from rental income and provides an excellent opportunity for the Group to expand its property portfolio by the addition of overseas properties with a view to maximizing its value for the Shareholders. The Group will adhere to its corporate philosophy of "Building with the Times", closely monitor Hong Kong, Mainland China to Global property market, and grasp the potential growth of any development and investment opportunities.