A report by the Financial Times reveals that Ho Bee Land will be buying London’s famed The Scalpel office tower for £820 million ($1.5 billion).
According to the report dated Feb 22 (US time), The Scalpel’s owner, US insurance group, WR Berkley, is in talks with the SGX-listed Ho Bee Land.
The deal could be signed off as soon as this week, according to sources. A sale at the price represents a yield of just below 4%.
The 190m-tall, 38-storey The Scalpel has been on the market since October 2020. It currently houses tenants including the National Australia Bank and Lombard International.
The building, which is one of the tallest in the City of London, is also a part of its iconic skyline. It is located on 52 Lime Street, at the corner of Lime Street and Leadenhall Street.
Ho Bee Land called for a trading halt in the morning of Feb 23. Before that, shares in the group last traded at $2.80.
See also: GuocoLand-led JV puts in winning bid of $349.9 million for Faber Walk site
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