<article>Singapore-listed investment holding company <a style="color: #000080;" href="http://hwahongcorp.com/">Hwa Hong Corporation Limited</a> has announced buying a 50 per cent stake in Capital Herbal Limited, a company incorporated in England and Wales.</article>

Singapore-listed investment holding company <a style="color: #000080;" href="http://hwahongcorp.com/">Hwa Hong Corporation Limited</a> has announced buying a 50 per cent stake in Capital Herbal Limited, a company incorporated in England and Wales.
According to a regulatory filing, Hwa Hong Corporation Limited had acquired 500 shares, priced at GBP0.01 each (about $0.01). The other 50 per cent of the shares belonging to Capital Herbal Limited is split between UK-based Langland Estates Ltd, which owns 50 shares, and US-based DR Trust, which owns 450 shares.
Going forward, Capital Herbal Limited will be listed as a subsidiary of Hwa Hong Corporation Limited.
The investment will primarily allow Hwa Hong Corporation Limited to invest in a freehold commercial property Capital Herbal Limited had acquired on 8 April 2016. The property, located at 3 to 7 Herbal Hill, Clerkenwell, in London, was purchased at a total cash consideration of GBP 24.8 million. The acquisition is expected to be completed by 31 May 2016.
The 32,935 sq. ft property was also said to be &#8220;within walking distance of established office locations such as the City of London and Holborn&#8221;, according to filed documents. The seven-floor building is also around 500 metres away from Farringdon Station, which is a major transport hub served by the London underground, as Thameslink high speed rail, and works as a key Crossrail interchange.
Hwa Hong Corporation Limited noted that adding the property as an investment will help the firm expand its commercial real estate portfolio in central London. It will also help Hwa Hong Corporation Limited &#8220;seek value-add opportunities in the central London property market for recurrent rental income and long term investment purposes&#8221;. The company also plans to increase returns by refurbishing the property and re-letting it at a later date.
According to a filing, the property is currently fully leased, and produces an annual gross rental income of approximately GBP 1.1 million.
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SGX-listed firm Hwa Hong Corp's stake will let it invest in a freehold property located at 3 to 7 Herbal Hill, Clerkenwell, London, owned by CHL

Hwa Hong Corp acquires 50% stake in UK firm Capital Herbal Limited

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Hwa Hong Corp acquires 50% stake in UK firm Capital Herbal Limited

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