Singapore

CITY Developments (CDL) has bought an office tower in London's 125 Old Broad Street - formerly known as the Stock Exchange Tower - for £385 million (S$686.48 million) amid an expected tightening supply of office space in the city.

The acquisition of the prime freehold Grade A office space - the developer's second London commercial property acquisition in 2018 - translates to £1,170 per square foot across its net lettable area (NLA) of 329,200 square feet (sq ft), which spans 26 floors with panoramic views of the city and three basement levels. It has also secured parking facilities.