Oracle Co-Founder Purchases 11-12 St James’s Square from Chinese Estates
Larry Ellison, co-founder of Oracle Corporation and one of the world’s wealthiest individuals, has expanded his real estate portfolio with the acquisition of a prime office property in London’s West End. Ellison purchased 11-12 St James’s Square from Hong Kong-listed investor Chinese Estates for £162 million.
The property, a mixed-use building comprising mainly Grade A office space, offers a total net internal area of 82,024 square feet arranged over lower ground, ground, and six upper floors. It also includes 14-17 Ormond Yard. Notably, the building is almost entirely vacant, suggesting that Ellison may intend to occupy it with one of his businesses.
Chinese Estates had initially acquired the property in 2017 for £175 million from Malaysia’s Employees Provident Fund. The recent sale aligns with Chinese Estates’ strategy to divest its UK assets, with the Zara flagship store at 61 Oxford Street remaining as its sole property in the region.
This transaction provides a significant boost to the London office market, which has experienced a limited number of £100 million-plus deals in 2024. According to JLL, investment volumes across central London are projected to total £6.4 billion for the year, slightly below the £6.5 billion recorded in 2023.
Advisory firms involved in the deal included Colliers, representing Chinese Estates, and Newmark, acting on behalf of Ellison.
