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CityDev buys Aldgate House in London for $328 mil, expects immediate accretion

Property

CityDev buys Aldgate House in London for $328 mil, expects immediate accretion

Michelle Zhu Published on Fri, Sep 14, 2018 / 10:57 AM GMT+8

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SINGAPORE (Sept 14): Property developer City Developments Limited (CDL) has acquired a prime freehold Grade A commercial building, Aldgate House, in London for £183 million ($328 million).

Aldgate House is strategically located in the heart of Aldgate and is bounded by Aldgate High Street, Middlesex Street and St Botolph Street.

The asset is expected to provide immediately contribution to CDL’s recurring income, and has an occupancy rate of 88%.

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