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Ho Bee Land Acquires Sixth Prime Office Building In London
Daily Bulletin | 01 December 2015
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Ho Bee Land‘s indirect wholly-owned subsidiary, Kempster Investments, has entered into a sale and purchase agreement with Lunar House to acquire a freehold property known as Apollo House and Lunar House in London for approximately $210 million.

The acquisition includes two office buildings of 20 storeys and 22 storeys, totalling 441,797 square feet of office accommodation. The properties are let in its entirety to the British Government in two separate leases until 23 June 2023 for a total rent of 5.5 million British pounds per annum. There is a five yearly upward only rent review in December 2015 and December 2020. The annual rent reflects a net initial yield of 5.35 percent after allowing for transaction costs.

Ho Bee Land  -- -- --   
Business: Invests in & develops real estate properties in Singapore. [FY18 Turnover] Rental income (91.3%), sale of development properties (8.7%).

Insight: Apr-19, 1Q19 revenue rose 7.7% due to increased re... Read More


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