Chinese Estates close in on River Court acquisition

Goldman Sachs HQ valued at £300m

Article posted: 07 Jan 2011

Chinese Estates, the Hong Kong property company owned by billionaire Joseph Lau, is said to be in advanced discussions with the owners of Goldman Sachs’ HQ offices on Fleet Street in the City of London.

The 425,000 sq ft property which was once of the home of the Daily Express has been on the market since the summer and Chinese Estates is thought to be close to paying £300m for the scheme.

River Court was purchased almost 10 years ago by a syndicate of Irish investors. Goldman Sachs has a further 14 years remaining on its lease and pays around £15m per annum in rent.

Goldman Sachs sister office at Peterborough Court could also be coming to the market soon following the placing of the property in the hands of receivers last September when owner Jesta Capital defaulted on loans.

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Posted by Dan