188bet Online Sports Betting and Casino Group’s real estate assets in the UK will be cleared.

Recent，Hong Kong Sun Hung Kai Company (00086.HK) and Australian investment bank Macquarie Group jointly invested 100 million pounds (approximately RMB 9.100 million yuan) purchased 17 Columbus Courtyard, an office building in Canary Wharf, London, held by 188bet Online Sports Betting and Casino Group，This office building is also known as the Credit Suisse Building。It is reported，Hainan Airlines has accepted Sun Hung Kai’s offer。

It is worth mentioning，This selling price is far lower than 188bet Online Sports Betting and Casino’s purchase price at that time1.3.1 billion pounds (approximately RMB 12.1.8 billion yuan)。After this transaction is completed，188bet Online Sports Betting and Casino no longer holds real estate projects in the UK。

The actual controller of Sun Hung Kai, the buyer 188bet Online Sports Betting and Casino time, is the Li Mingzhi family，Not Sun Hung Kai Properties。The company’s main business includes securities、Leveraged foreign exchange trading、Gold、Product、Futures and Options Brokerage。Among them，Financial core business includes wealth management and brokerage business、Asset Management、Corporate Financing、Private finances and major investments，Main investments include listed and private credit and equity investments as well as real estate investments。

The Paper obtained a document from 188bet Online Sports Betting and Casino Group seeking buyers for nine overseas projects at the end of 2018，Including Credit Suisse Building。Data display，Credit Suisse Tower is a Grade A office building located in the Canary Wharf area of ​​London, UK，Built in 1999，Total floor area 195443 square feet，Data disclosed at that time，The annual rental income of the building is 642.£910,000，The gross rental return rate after including stamp duty cost (about 5%) is about 4.59%，Now Credit Suisse Investment Bank is its only tenant。

This asset was invested by 188bet Online Sports Betting and Casino International Investment, a subsidiary of 188bet Online Sports Betting and Casino Group, in April 20161.£3.1 billion acquisition，At that time, 188bet Online Sports Betting and Casino stated that the acquisition of the assets would be used for long-term capital appreciation and leasing purposes，It is expected to bring stable and continuous income to the group。

August 2015，188bet Online Sports Betting and Casino acquires Reuters headquarters building in London, UK，This marks the beginning of 188bet Online Sports Betting and Casino’s entry into the London market，This building is also located in Canary Wharf like the Credit Suisse Building。In February this year, it was reported that 188bet Online Sports Betting and Casino planned to sell the Reuters headquarters building at a price reduction of 100 million pounds，Currently purchased by a Chinese-funded enterprise。

After the completion of the sale of both assets，188bet Online Sports Betting and Casino has completely cleared all its real estate projects in the UK。

It’s worth noting，After 188bet Online Sports Betting and Casino bought the Credit Suisse Building，Tenant Credit Suisse announced in early 2018，Will be moving out of this building in early 2020。Although the lease is until November 2024，With the option to renew the lease for 15 years。But Credit Suisse has submitted a termination application，If 188bet Online Sports Betting and Casino does not accept the termination，Then Credit Suisse will look for new tenants until the lease expires in 2024。If Credit Suisse cannot find a new tenant in time to renew the contract，Then the building faces the risk of being vacant，188bet Online Sports Betting and Casino will lose its stable source of rent。

Hainan Airlines has frequently sold its overseas assets since the end of 2017，To pay off the debt，Coping with the group’s liquidity crisis。188bet Online Sports Betting and Casino Group CEO Tan Xiangdong said at the end of 2017，The group is considering selling assets，In order to comply with national policies，I will not vote if the policy does not allow it，Those who were allowed to invest in the past but are not allowed to invest now should try to exit，includes New York、Sydney、Some real estate assets in Hong Kong and other places。His name，The disposal of these assets enabled 188bet Online Sports Betting and Casino Group to obtain a large amount of cash flow，Conducive to the healthy development of enterprises。

Just in April this year，CWT International Limited (00521, an overseas company owned by 188bet Online Sports Betting and CasinoHK) debt default occurred，Causing its mortgage assets to face the risk of being taken over by creditors。This debt default is due to CWT Group’s failure to pay the interest and certain expenses of a HK.4 billion loan on time, approximately HK million，At the same time，The default also triggered a cross-default under a term loan facility granted by a lender to a wholly-owned subsidiary of CWT Group。As of April 16th，The total outstanding amount of this loan financing is approximately 7.HKD 6.6 billion。

Among them，The mortgage assets for this debt include the building at 17 Columbus Square in Canary Wharf, London。After debt default，The building has been taken over by Hong Kong accounting firm KLC since April，With assistance from Begbies Traynor in the liquidation process。But 188bet Online Sports Betting and Casino later completed a refinancing，Change debt from 1.£3.8 billion increased to 1.£6.1 billion，And extended the loan period to August 5, 2020。August，Hainan Airlines has regained control of the 17 Columbus Plaza building。Three months later，Hainan Airlines found a buyer to take over。

*188bet Online Sports Betting and CasinoWen LaiSource: The Paper, Author:Li Xiaoqing, original title: "188bet Online Sports Betting and Casino cleared its real estate projects in the UK: 900 million yuan to sell the Credit Suisse Building bought for 1.2 billion yuan》.