Sidra Capital, backed by Al Murjan Group, and 3 Associates Capital has purchased a landmark St James’s office block for £85m.
The company has acquired 1 Pall Mall East, SW1, from GLL Real Estate Partners.
The 71,500 sq ft nine-storey building, next to Trafalgar Square, is majority let to tenants McKinsey & Company.
Jesdev Saggar, managing director of 3 Associates Capital, said: “This is more than an acquisition, it is a landmark property that will be here 300 years from now and still remain one of the most important commercial locations in the capital. ”
Hani Baothman, chief executive of Al Murjan Group, said: “We have been regularly investing in the UK and we are pleased to have secured this landmark building in a prime location in central London, which proves that London is still attractive to serious GCC investors.”
JLL advised Sidra Capital and 3 Associates Capital; Cushman & Wakefield, Bilfinger GVA and Norton Rose Fullbright acted on behalf of GLL.
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