AMTD IDEA Group (AMTD) announced that it has signed a definitive agreement to acquire the office tower at 40 Furnival Street, London EC4A 1JQ, for an effective consideration of roughly 23 million Singapore dollars (about GBP 12 million).

The company said the deal will be completed without using external financing, despite the availability of a previously announced term loan facility.

Located in Midtown, within 100 metres of Chancery Lane station and close to Farringdon Station, the property offers approximately 9,646 sq ft of Grade A office space across lower ground, ground and five upper floors, and includes a roof terrace.

Upon completion, the building is expected to serve as one of the global headquarters for AMTD, The Art Newspaper and L’Officiel. The transaction is subject to customary closing conditions and is anticipated to close in the near future.