Singaporean investor Keppel Land has agreed to buy an office property in the City of London from the Aberdeen Property Trust for £91 mln (€122 mln).

Singaporean investor Keppel Land has agreed to buy an office property in the City of London from the Aberdeen Property Trust for £91 mln (€122 mln).

The 12,000 m2 freehold building is located at 75 King William Street, close to the Bank of England. It is let to a number of tenants with a lease review due within the next five years.

'The asset has performed well for the Trust over the four years we’ve owned it,' commented Tim Sankey, fund manager at Aberdeen Asset Management. 'We have executed the business plan put in place on acquisition but the asset no longer fits our long-term strategy.'

Aberdeen was advised by GM Real Estate.

Savills advised Alpha Investment Partners which is managing the investment on behalf of Keppel Land.