Qatari investor buys London West End office
Qatari investor Alduwaliya Asset Management, also known as ADAM, has acquired an office building at 160 Great Portland Street in London’s West End for £127.35 million ($162.1 million).
The seller was Great Portland Estates.
“The sale of 160 Great Portland Street is consistent with our approach of recycling capital out of long-dated mature assets where we have created value,” said Toby Courtauld, chief executive of Great Portland Estates.
The building, which provides 92,133 square feet of class A offices over lower ground, ground and six upper floors around a central atrium, was comprehensively refurbished and pre-let by GPE in 2012. The offices, which account for 97 percent of the income, are let to Double Negative Limited, one of the world’s leading visual effects companies for feature film and television, until May 2032.
In addition, there is a small restaurant unit arranged over ground and lower ground floors and extending to 3,790 square feet