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Cording buys portion of London estate for £245M

Cording Real Estate Group Ltd. acquired about 250,000 square feet of the 465,000-square-foot Holborn Links Estate in London from Citwax Investments for £245 million, Property Week reported.

Citwax, which is owned by Israeli billionaire Teddy Sagi, put the mixed-use assets on the market in spring 2019 with a combined price tag of £275 million.

The estate includes 34 office, retail and residential properties in Southampton Row, Southampton Place, Bloomsbury Square, Sicilian Avenue, Covent Garden, Soho and Oxford Street, and is let to 40 tenants, according to the report.

Citwax bought Holborn Links Estate from a Triangle Group-advised group of investors for roughly £300 million in 2016.

Cushman & Wakefield provided Citwax advice, while Knight Frank advised Cording Real Estate, the news outlet reported.