Keppel Land buys London office block for £91 million

KEPPEL Land (KepLand) has bought a freehold office building in London for £91 million (about S$186 million).

It said in a news release on Monday evening that it has inked a sales and purchase agreement with Aberdeen Property Trust for the nine-storey office building at 75 King William Street.

The building was completed in 1989 and has a total internal area of 130,000 sq ft (12,080 sq m). It is almost 100 per cent occupied by tenants in the financial services, shipping and serviced office industries. The investment will be managed by KepLand's fund management subsidiary, Alpha Investment Partners.

KepLand closed one Singapore cent lower at S$4.53 on Monday. KepLand issued the announcement after the market close.