Citi Private Bank has purchased Kia UK’s 30,933 sq ft headquarters building in Walton-on-Thames, Surrey, for an undisclosed price.
Citi Private Bank – a subsidiary of Citigroup – and its private investor client bought the asset from a client of abrdn.
The freehold property is let to Kia for a further 11 years and the car manufacturer is currently undertaking an extensive refurbishment of the ground floor, creating a car showroom, events space and new reception and entrance.
Dale Johnstone, partner at Allsop, which represented Citi Private Bank on the deal, said: “The transaction of Kia’s UK headquarters is a great example of how longer income offices with strong fundamentals continue to attract interest, particularly from overseas investors. The UK is still perceived as a very safe and transparent place to invest money without many of the hurdles and barriers to entry that face other global CRE markets.”
Knight Frank represented the vendor.
