Preston & Stadler Property Trust sells City office building

October 2, 2015

Preston & Stadler Fund Manager, Schwartz confirmed that Singaporean Investor, Keppel Land, bought their 130, 000sq feet freehold building, located at 26 William Street, London, EC4. Schwartz commented that European assets are a hidden gem for foreign investors such as the Singaporean Giant, Keppel Land.
Preston & Stadler Property Trust received 91 million pounds for the building, which are located in one of King William Street’s prime locations and in close proximity to the Bank of England. The building is currently occupied by several groups of businesses and other tenants with lease occurrences over a five-year period.

Speaking to Preston & Stadler, Michael Schwartz, Fund Manager commented, “We have been extremely happy with the performance the City Office Building deliver in the time we owned it. However, it is four years later and we have new strategies in place and at present the building does not feature in our long term planning and investment strategies. It was time to sell and we wisk Keppel Land all the best in its endeavor into the city office market.”

The real estate giants, GM Real Estate, was used to negotiate the deal between Keppel Land and Preston & Stadler. Savills, in turn represented Keppel Land through their advisors, Rockstone Investment Partners.

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Heather Andrews