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- July 1, 2011: Vol. 5, Number 7

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Almacantar to Buy London Office Tower

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Almacantar, a property company based in London and Luxembourg, has agreed to buy the Marble Arch Tower, a high-rise office building in London’s West End, from clients of Orchard Street Investment Management. The 15,400-square-metre building will change hands for approximately £80 million (€90 million). It comprises a 21-storey office tower, groundfloor retail on Marble Arch and Edgware Road, and an Odeon cinema.

“We are delighted to have acquired Marble Arch Tower, one of the landmark buildings in London’s West End. This deal is our third project in London this year and demonstrates our long-term confidence in the future of the West End market,” says Mike Hussey, managing director of Almacantar.

 

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