AM alpha, a global family office for real estate investments, has acquired a mixed-use property in London with office, retail and leisure units.
Financial details were not disclosed.
The building is located on Coleman Street, which runs parallel to Moorgate and in close proximity to the Bank of England. AM alpha acted on behalf of several investors who are represented by a pension fund manager from Hamburg. The asset was sold by the asset manager Abrdn plc.
Situated in a prominent location in the city core of London, the building sits over Mason’s Avenue and opposite Great Bell Alley, both pedestrian thoroughfares linking Coleman Street to Basinghall Street and Moorgate.
Martin Lemke, managing director at AM alpha, said: 'After the pandemic, many companies are rethinking their office location. In the time of home office and remote working, they have to find new answers on how to revitalise their offices.
'In addition to accessibility, the quality of stay in the office is just as decisive as the attractiveness of the office environment. The 30 Coleman Street building will significantly increase in value through our repositioning measures.'
Built in 1981 and partly refurbished in 2013, the building has a usable floor area of approximately 2,500 m2 distributed over a basement and ground floor, as well as five upper floors. The property is fully occupied by a total of ten tenants (5 office, 4 retail and 1 leisure).
AM alpha has identified several opportunities to enhance the building's market position, from redesigning the façade to installing end-of-trip facilities. Additionally, the business plan aims to improve the EPC rating of the building.
30 Coleman Street is located close to public transport links and equidistant between Bank and Moorgate, both of which are benefiting from significant upgrade, including access to the new Elizabeth Line.
The area is mainly used as an office location by leading finance, insurance and legal companies. Increasingly, creative, media and technology companies are also settling here.
AM alpha were advised on the transaction by Cushman & Wakefield and law firm Eversheds Sutherland. Abrdn were advised on the transaction by Squarebrook and CMS.
