It’s being reported that China Construction Bank has acquired an office building in London for GBP 110m, which it will use as its European headquarters. Knight Frank, which made the announcement, was involved in the sale. CCB was chosen earlier this month as the first clearing bank for yuan trading. The building it has purchased from KBC Groep offers over 11,400 sqm at 111 Old Broad Street. It’s these type of deals which continue to build expectations that rents for prime office space will rise in London.
