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KUALA LUMPUR (May 5): Lembaga Tabung Haji is planning to sell the London headquarters of law firm King & Wood Mallesons, according to one of its investment managers, Bloomberg reported today
The building is expected to sell for about £200 million (RM1.16 billion).
Malaysia’s state investment funds have recently been selling real estate in the UK after Putrajaya called on them to repatriate capital to support the country’s stock and currency markets.
Gatehouse Bank Plc, which manages real estate investments on behalf of Lembaga Tabung Haji, has hired Savills Plc to look for a buyer for the property at 10 Queen Street Place, according to the Bloomberg report.
The pilgrims’ board purchased the Queen Street Place building in London’s financial district about four years ago for £165 million.
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