Mayer Brown has advised Singapore property developer, Hoi Hup Realty, on its first overseas real estate acquisition with the purchase of 1 Golden Lane in City of London for £77 million.

The commercial property, which has approximately 107,000 sq ft of Grade A office accommodation, is currently let to leading global investment bank, UBS AG.

Martin Wright, European Head of Real Estate at Mayer Brown, said: “Hoi Hup’s acquisition of 1 Golden Lane is yet another excellent example of the attraction of London real estate for overseas investors. Levels of demand for such properties show no sign of abating as, coupled with a booming occupational market, attractive net yields can still be generated. We are truly delighted to have assisted Hoi Hup on its first significant property investment overseas.”

The Mayer Brown team was led by Martin Wright and included Real Estate associate Heather MacIntosh; Corporate & Securities senior associate Dominic Palmer and associate Amy Tregunna; and Tax Transactions & Consulting senior associate Simon Slade.