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LATEST NEWS & EVENTS VTB Bank sells £16.5m commercial property in EC4  Commercial property observers might be interested to learn that CB Richard Ellis (CBRE) has advised the Industrial & Commercial Bank of China with regards to the freehold purchase of a property at 81 King William Street in London. The site is located in EC4 and has been bought from VTB Bank for £16.5 million. In addition, the purchasers are set to give the property a fundamental refurbishment before taking up residence at the premises in 2011. Overall, the facility comprises 40,000 sq ft of office space and was previously owned by VTB Bank, which is the largest state owned bank in Russia. Commenting on the news, Stephen Pearson, senior director of city capital markets at CBRE, stated: "This is a significant Chinese deal for the City this year as we continue to see an increasing number of enquiries from occupiers and investors wishing to enter or expand into the London market." It could be said that central London will continue to outstrip other parts of the UK in terms of real estate demand over the coming years. Posted by Isobel Whitely 
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