Coleman Street, London
AM alpha acquires a mixed-use property in London with office, retail and leisure units. The building is located on Coleman Street, which runs parallel to Moorgate and in close proximity to the Bank of England. AM alpha, a global family office for real estate investments, 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. The parties have agreed not to disclose the purchase price.
Situated in a prominent location in the city core of London, just 150m from the Bank of England, the building sits over Mason’s Avenue and opposite Great Bell Alley, both pedestrian thoroughfares linking Coleman Street to Basinghall Street and Moorgate. 30 Coleman Street is strategically located close to excellent 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.
Built in 1981 and partly refurbished in 2013, the building has a usable floor area of approximately 2,500 sqm 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.
"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," says Martin Lemke, Managing Director at AM alpha. " Even in a challenging market environment, we create investment opportunities for our partners. This transaction shows again that AM alpha is an expert in executing complex investments. We will continue to grow our portfolio equally across sectors in the UK and the rest of Europe."
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.
AM alpha is a Munich based privately owned real estate family office that focuses on global investments in prime real estate on its own account and in collaboration with family offices, private clients and endowments in Europe and Asia. The company is represented in Europe in all major real estate markets with its own offices. Its Asian operations are headquartered in Singapore, with offices in the gateway cities in the Asia Pacific region. AM alpha has also received all necessary licenses from German regulator BaFin acting as a German regulated capital management company (Kapitalverwaltungsgesellschaft – KVG) and Alternative Investment Fund Manager (AIFM). The real estate firm is currently managing a substantial Asia Pacific and European portfolio.