King Street Real Estate and Arax Properties have completed the acquisition of the Alban Gate office block in the City of London. The 22-storey, 382,000ft² Grade A office building straddles London Wall, in a prime, well-connected location between Farringdon, Moorgate, St. Paul’s and Barbican stations. Alban Gate underwent a major refurbishment in 2014 by its principal tenant JP Morgan. The purchase price was not disclosed.
David Walch, Partner of King Street Capital Management, commented: “We are excited to have completed the purchase of Alban Gate, a fully-leased office building in an attractive location, and look forward to working alongside our trusted partner in Arax.”
"Alban Gate is a notable London landmark in a prime location, offering impressive, flexible office space and with an excellent leasing track record. We believe this location will benefit significantly from infrastructure and local environmental improvements over the life of our business plan," said Giles Morse, Partner at Arax Properties.
