이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Hanwha insurers pocket $36 million from London property sale
- Collected
- 2017.04.06
- Distributed
- 2017.04.07
- Source
- Go Direct
According to the investment banking industry Wednesday, the two Korean insurers recently sold the One Wood Street building to German property fund manager KanAm Grund Group for around 290 billion won. The sale comes in nearly five years since they purchased the property together with IGIS Asset Management Co. for 247 billion won in October 2012.
The Korean investors acquired equity and securities that delivered annual rate of return of 10 percent. When including the gains from annual dividend payouts and interests from the securities, they earned 100 billion won from the property investment.
The eight-story complex One Wood Street, completed in 2007, is a landmark building occupying a prime position in the heart of the City of London. Totaling 16,000 square meters, the property is fully let to international law firm Eversheds Sutherland as its international headquarters.
The latest selloff may bring back interest in the commercial properties in London.
Earlier in January, Samsung SRA Asset Management gained nearly 100 billion won by selling 30 Crown Place - the headquarters of legal firm Pinsent Masons in London - on behalf of five Korean institutional investors including Samsung Life Insurance Co., Samsung Fire & Marine Insurance Co., Kyobo Life Insurance Co., Hyundai Marine & Fire Insurance Co. and Shinhan Life Insurance Co.
By Song Gwang-sup
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