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News Release

London

Sidra Capital and 3 Associates Capital purchase No.1 Pall Mall East for £85million

JLL advised Sidra Capital and 3 Associates Capital throughout the transaction


London 30 March 2016 - Sidra Capital, backed by Al Murjan Group, and 3 Associates Capital have purchased a landmark London island office block in St James, 1 Pall Mall East, from GLL Real Estate Partners for a sum of £85 million. 

 

The 71,500 sq ft nine storey building, which stands at the entrance to Trafalgar Square, represents one of London's finest modern architectural achievements which has been skilfully developed to retain its outer historical integrity.  Majority let to McKinsey & Company, the building boasts one of London's premier restaurants and heralds the continued desire for iconic assets in London's prime locations.

 

Jesdev Saggar Managing Director of 3 Associates Capital said: "This is more than an acquisition, it is a Landmark property that will be here 300 years from now and still remain one of the most important commercial locations in the capital. This is a once in a lifetime acquisition and one which will continue to deliver extraordinary results"

 

Hani Boathman, CEO of Al Murjan Group "We have been regularly investing in the UK and we are pleased to have secured this landmark building in a prime location in Central London, which proves that London is still attractive to serious GCC investors.  Amidst all the talks of Brexit, we are bullish about the long term prospect of the UK.

 

JLL acted as advisers to Sidra Capital and 3 Associates Capital whilst Cushman & Wakefield, GVA Bilfinger and Norton Rose Fullbright acted on behalf of GLL.