China Life Insurance (Overseas Company) has snapped up two office towers in Hong Kong Hong Kong for a record HK$5.85 billion.
The en-bloc sale of West Office Tower and West Retail Villa at One HarbourGate at 18 Hung Luen Road is believed to be the largest single office tower purchase in Kowloon's history.
Savills sold the properties on behalf of Wheelock Company Limited respectively.
The West Office Tower is 15-storeys, totalling approximately 357,000 square feet gross. The West Retail Villa is two-storeys and totals approximately 36,000 square feet gross.
Savills CEO of Greater China Raymond Lee, who headed the project, said: “Upon learning of the expansion plans of China Life in Hong Kong, we dedicated a lot of resources to finding a suitable site to serve as their headquarters. Located in a core commercial area with unobstructed views of Victoria Harbour and close to an excellent transportation network, One HarbourGate is undoubtedly a good choice."
