Hong Kong family firm swoops on former City House of Fraser store

The City of London’s former House of Fraser building has been snapped up by Hong Kong’s Doo family for more than £130m. The building, which sits at 68 King William Street, EC4, is part-way through a refurbishment to transform the 97,538 sq ft premises into an office-led mixed-use site. The Doo family’s patriarch, William Wai-Hoi Doo, is believed to have been looking to expand his personal real estate portfolio in overseas markets for some time. He picks up the building at a significant mark-up from when Ares Management Corporation and Black Mountain Partners bought it for around £75m in 2019. At the time, Ares partner John Ruane described the move as part of the asset manager’s plans for “hands-on value creation initiatives for well-located assets in major city centres”. Savills advised the seller on the deal.   To send feedback, e-mail alex.daniel@eg.co.uk or tweet @alexmdaniel or @EGPropertyNews Click here to view more office availabilities in EC4