Uncertainties over Brexit give CDL ‘opportunities to acquire assets with deep value’
The former Stock Exchange Tower in London’s Square Mile has been sold for £385m to a Singaporean group that said it took advantage of Brexit uncertainty to strike the deal.
The Singapore-listed City Developments Ltd, which is chaired by the billionaire businessman Kwek Leng Beng, has bought the freehold building at 125 Old Broad Street from the US-based private equity group Blackstone. Blackstone acquired the building for £320m in 2014, with reports suggesting it might sell for as much as £430m.
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