Beltane Asset Management and TPG Angelo Gordon have agreed a deal to acquire the long leasehold interest in 10 Old Burlington Street in London’s Mayfair from Old Burlington Limited for an undisclosed price.
The off-market acquisition, which is the second in partnership with Almira, adds to Beltane and TPG Angelo Gordon’s growing pipeline of office assets in prime locations.
The 40,000 sq ft office building is entirely let to investment manager Millennium Capital Management.
Duncan Roe, partner at Beltane, said: “We are delighted to have exchanged contracts to purchase 10 Old Burlington Street, marking our first foray into Mayfair. We continue to explore opportunities in super-prime locations alongside our long-term partners at TPG Angelo Gordon, with a number of exciting prospects currently being considered.”
RX London acted for Beltane and TPG Angelo Gordon and Michael Elliott acted for Old Burlington Limited.
