London — Mayer Brown advised Chinachem Group (Chinachem), one of the major developers in Hong Kong, on the purchase of the Kaleidoscope, Farringdon for £158.5 million.
The six story office building sits above the Farringdon East Crossrail Station, and is occupied by TikTok which took a 15-year lease in March 2021 at £7.66 million per annum.
Chinachem intends to hold this property as a long-term investment, given its location in one of London's best performing sub-markets with impressive rental growth.
The largely London-based team was led by Real Estate partner Chris Harvey and included senior associate Erin Brayshaw, partner Alvin Yeung (Hong Kong), Corporate & Securities partner Perry Yam, associate James Beattie, Tax partner Simon Rose, partner Kitty Swanson, senior associate Kirsten Hunt, counsels Tim Baines and Tamsin Travers.
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