Singapore group buys AXA’s Ropemaker for £650m

Ropemaker Place

AXA Investment Managers-Real Assets has sold Ropemaker Place, in the City of London, to a subsidiary of Singapore’s Ho Bee Land for £650m.

The 21-storey, 602,000 sq ft office was developed in 2009, and is 96% let with a weighted average lease term of 10.5 years to expiry. AXA acquired the scheme in 2013 on behalf of a joint venture comprising one European and two Asian investors.

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