AM alpha has acquired Fleet Place House, located on the south of Holborn Viaduct close to Farringdon Crossrail Station one of the most dynamic and fastest changing areas of Central London.
The grade-A property was completed in 2000 and offers 8,600 m² of office and retail space. Around 90% of this area is already occupied by creditworthy tenants such as BT or Samsung. Due to its unique architecture and sophisticated construction designed by Skidmore Owings & Merrill, the building offers 100% column-free office space.
Rationale
AM alpha generally expects the London Commercial Property Market to perform well in the mid-term. Moreover, the area around Fleet Place is expected to benefit from new developments and the further improvement of today's already excellent access to public transport by opening of Crossrail in 2017/2018.
Crossrail will make Farringdon Station the most important hub in Midtown with all additional positive impacts on Fleet Place House and the immediate vicinity.
The Fleet Place House acquisition is part of AM alpha´s strategy to invest in office and retail properties in European and Asian key cities with a special focus on core and value-add properties. Further acquisitions in Northern Europe are currently being planned.
Source: AM Alpha GmbH
