Tak Lee puts slice of Langham Estate on the block for £500m

Samuel Tak Lee has put around 400,000 sq ft of office space on the 13.8-acre Langham Estate, W1, on the market for £500m. The Hong Kong property billionaire has instructed Savills and JLL to market the freehold for 27 assets on the estate which span Great Portland Street and the surrounding roads. The properties up for sale, which are 85% occupied, are situated in the northern part of the wider £1.6bn Langham Estate. Capital raised from the sale of the properties, which are being marketed as the Lotus Portfolio, is set to be funnelled back into offices on the southern part of the estate, EG understands. Tenants on the estate, which comprises a 1.3m sq ft mixed portfolio, include around 500 occupiers from retail chains, galleries and restaurants to office occupiers and medical and educational providers. Lee purchased the Langham Estate in 1994. It is currently home to occupiers including the BBC, Riding House Café, Boohoo Group, the Royal Institute of British Architects and Sellar Property Group. To send feedback, e-mail chante.bohitige@eg.co.uk or tweet @bohitige or @EGPropertyNews See which agents are doing the most deals in the London submarkets with our On-Demand Rankings >>