Keppel Land to invest in freehold building in London’s CBD for S$186m

Keppel Land on Monday (Feb 9) has entered into a sales and purchase agreement with Aberdeen Property Trust for a freehold nine-storey office building in the City of London for £91 million (S$186 million), it announced in a press release.

The property, located at 75 King William Street, is said to be in close proximity to Bank Junction, London’s historic and financial centre. Keppel said the investment will be managed by its fund management subsidiary, Alpha Investment Partners.

CEO of Keppel Land Ang Wee Gee said: “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.”

With a total internal area of 130,000 sq ft, the office building – completed in 1989 – is almost fully occupied by tenants in the financial services, shipping and serviced office industries, Keppel said.

“The above transaction is not expected to have any material impact on the net tangible asset per share or earnings per share of Keppel Land Group for the current financial year,” the developer added.

Source : Channel NewsAsia – 9 Feb 2015

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