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KPMG signs £400M sale-leaseback deal for London HQ

KPMG signed a roughly £400 million agreement with Kingboard Investments to sell and lease back its 14-story London headquarters.

The buyer is a subsidiary of Hong Kong-based investor Kingboard Chemical Holdings Ltd.

As planned, KPMG will enter into a 25-year lease for the 434,261-square-foot asset at 15 Canada Square in Canary Wharf, upon closing of the transaction in January 2018.

Jones Lang LaSalle served as KPMG's agent during the sales process, while Savills advised Kingboard Investments. Eversheds and BLP respectively served as solicitors for the seller and buyer, according to a release.