Gamuda Bhd, in partnership with Castleforge Partners, has acquired Winchester House in London for £257 million to transform it into a premier ESG office space, aligning with their strategic goals in sustainable property development.

Target Information

Gamuda Bhd, alongside its partner Castleforge Partners Ltd, has acquired Winchester House, an eight-storey commercial building located in London, for £257 million (approximately RM1.39 billion). The building boasts a total area of 317,000 square feet and is currently the headquarters of Deutsche Bank AG in London, with its lease set to expire in April 2024.

The acquisition was made through Venta Belgarum II Ltd Pt (VB II), a partnership where Gamuda holds a 75% stake via its wholly-owned entity Gamuda Land (Labuan) Ltd, while Castleforge Partners holds the remaining 25% through its subsidiary Athelstan Ltd.

Industry Overview

The commercial real estate sector in the UK, particularly in London, is witnessing a significant shift towards environmentally sustainable developments, known as ESG (Environmental, Social, and Governance) office spaces. With increasing awareness and regulations s