Member Article

Singaporean property company acquires 39 Victoria Street, SW1 for £144m

British Land has exchanged contracts for the sale of 39 Victoria Street, SW1 to Singaporean property company Ho Bee Land for a gross purchase price of £144m.

Ho Bee Land is quoted on the mainboard of the Singapore Exchange and owns assets in London including 1 St Martin’s Le Grand, 60 St Martin’s Lane and Rose Court.

39 Victoria Street, which was acquired by British Land in 2009 for £40m, is a 10 storey office building, totalling 98,000 sq ft including retail space on the ground floor.

The property is let in its entirety to The Corporate Officer of The House of Commons until September 2029 with a break in July 2026 at a total rent of c. £6m per annum.

Tim Roberts, Head of Offices at British Land, said: “39 Victoria Street has been a good investment for us and is an excellent example of how we do business. Our refurbishment delivered a high quality building and attracted a high calibre occupier on a profitable lease.

“The timing of the disposal allows us to benefit from strong investment markets, and to allocate capital most appropriately across our business.”

This was posted in Bdaily's Members' News section by Ellen Forster .