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Keppel Land announced Tuesday (10 February) that it has entered into a sales and purchase agreement with Aberdeen Property Trust for a nine-storey freehold office building in the city of London for GBP 91 million (approximately S$186 million).
Located at 75 King William Street, the building completed in 1989 has a total internal area of 130,000 sq ft. In an SGX filing, the company said the property will be managed by Keppel Land’s fund management subsidiary Alpha Investment Partners.
Keppel Land CEO, Ang Wee Gee said” “Our investment in this office building with a prime location in London’s historic and financial centre is in line with our strategy to invest opportunistically in key global cities with good growth potential. With continued growth in the financial services and new emerging industries such as the technology, media and telecommunications sectors, the London office market is expected to remain healthy.
He added that while the company continues to seize good opportunities in growth markets, it remains focused on Asia particulary in Singapore and China.
Keppel added that subject transaction is not expected to have any material impact on the net tangible asset per share or earnings per share of the group for the current financial year.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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