WHAT represents chaos and confusion for one can be someone else’s gain. This was clearly played out when Singapore tycoon Kwek Leng Beng bought two London buildings in a span of two months. Britain is going through Brexit blues with the 2019 deadline around the corner.

The executive chairman of one of Singapore’s largest real estate company City Developments Ltd (CDL) Kwek Leng Beng has bought the former Stock Exchange Tower in the City of London for £385mil (RM2.059bil) in a Brexit-linked opportunity which represents “deep value” for the billionaire tycoon, the Financial Times reported in its online version yesterday.

The vendor is American private equity group Blackstone.

According to Friday’s Financial Times, the 27-storey building at 125, Old Broad Street will generate a yield of about 4.7%. Tenants include property agents Cushman & Wakefield, law firm King & Spalding and China International Capital Corp.

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