The planned sale of the Lloyd’s building at 1 Lime Street in the City to Chinese life insurance firm Ping An is the latest example of London landmarks being snapped up by overseas investors.
As there is so little indigenous money in the UK property market – apart from institutional funds – it is little surprise that they have been so many of these types of deals. In addition, proposed relaxation of regulation in China will make it easier for Chinese insurance companies to invest in overseas property. These types of deals present great opportunities, but the risk for those tasked with giving advice – particularly real estate lawyers – are far higher.
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