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Chinese Buy "landmark" Lloyds Building

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http://www.bbc.co.uk...3236928?SThisFB

China's Ping An Insurance Group has agreed to buy the Lloyd's building in London for £260m ($388m).

The building, a landmark property in London and home to the world's leading insurance market, was owned by German asset management fund Commerz Real.

Chinese firms have been looking to buy assets in key markets in their quest to expand their presence globally.

Earlier this year, Dalian Wanda Group, a Chinese property developer, announced a £1bn investment in the UK.

Jon Crossfield, a director with Savills which advised on the Lloyd's of London building deal, said that it was "a potentially landmark transaction, given it is the first by a Chinese Insurance company overseas".

"It is a high profile and confident entry to the market for them and further illustrates the dominance of overseas investors in London at present."

:blink:

Edited by Secure Tenant

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Lloyds writes a lot of aviation insurance, so chances are when you buy an airline ticket now, some of your money wil be feeding back to Chinese investors.

We will see a lot more over the coming decades, as we become cash cows for foreign rentier.

Will be interesting to see if they can stay low-key enough to avoid the backlash that happened with the Japanese when they did the same thing in the 80s/90s.

Doubtful, given the military dimension and American paranoia.

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Lloyds writes a lot of aviation insurance, so chances are when you buy an airline ticket now, some of your money wil be feeding back to Chinese investors.

We will see a lot more over the coming decades, as we become cash cows for foreign rentier.

Will be interesting to see if they can stay low-key enough to avoid the backlash that happened with the Japanese when they did the same thing in the 80s/90s.

Doubtful, given the military dimension and American paranoia.

They are buying the building not the market. The market is made up of individually capitalised syndicates

www.lloyds.com/‎

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They are buying the building not the market. The market is made up of individually capitalised syndicates

www.lloyds.com/‎

Death Spirals.

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My firm is for sale.

Im just waiting for them to wing up.

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Can't imagine what could possibly go wrong with this transaction.

Used to work for a company 20 odd years ago who had a chinese student marched off site when they were caught trying to download the contents of one of the mini-computers out of hours.

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Tue Jul 9, 2013 7:24am EDT

(Reuters) - The new Chinese owner of the landmark Lloyd's Building in London could face the financial burden of an empty building as the insurance market considers a move out of its high-maintenance home.

http://www.reuters.c...E9680EB20130709

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When will the Chinese start lending us money to pay their rent?

They already do, by buying our bonds and debts so you can pay them interest. And buying the properties so you can pay them rent.

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Foreigners aren't even allowed to buy an apartment in China unless they are living there on a long term visa. It is a bit unfair that they are now buying up London landmarks.

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Yes I know they're buying the building...Syndicates pay rent in the building They recover the cost through insurance premiums..paid by airlines..who recover it via airfares. In the end the consumer or taxpayer always pays.. this time a sliver to Chinese investors..the slivers keep adding up.

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Foreigners aren't even allowed to buy an apartment in China unless they are living there on a long term visa. It is a bit unfair that they are now buying up London landmarks.

We need their money more than they need or want ours. :huh:

Edit: I think they call it a trade deficit.......cuddly toy anyone? ;)

Edited by winkie

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We need their money more than they need or want ours. :huh:

Edit: I think they call it a trade deficit.......cuddly toy anyone? ;)

Countries with Lesser Developed status tend to have legal restrictions on foreign ownership of domestic property to protect their citizens from hot international capital flows looking for a speculative home. What's happening in London right now is a perfect illustration of why.

Perhaps it's time to reconsider our status?

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What I found interesting about this deal is that Commerz bought this building in 2005 for £231m. 10% capital appreciation in 8 years seems pretty skinny considering the London property market is supposed to be so good.

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Coincidentally I've just seen a document which says that international capital was behind 51% of all investment transactions in the UK commercial real estate market - 73% in markets for offices in central London - at the start of 2013 .

The document is by a big asset management company - unlikely to use duff figures.

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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