AMTD Group Co Ltd, AMTD IDEA Group, AMTD Digital Inc., and its subsidiary The Generation Essentials Group (TGE), collectively referred to as AMTD, have jointly announced that AMTD IDEA Group has entered into a definitive agreement.

The agreement is for the acquisition of an office building located at 40 Furnival Street, London, with the postcode EC4A 1JQ. The total effective consideration for the property is approximately $17 million, which is equivalent to around £12 million.

It is anticipated that the acquisition will be completed without the need for any external financing. This includes not utilizing a previously announced term loan facility from AMTD IDEA Group that was associated with this transaction.

The property is situated in a prime location within London's Midtown district. It is less than 100 meters from Chancery Lane Underground station and within walking distance of the Elizabeth Line interchange at Farringdon station, one of London's busiest transport hubs.

The surrounding area offers a wide variety of high-quality retail and leisure amenities. The building itself has a total area of approximately 9,646 square feet, or about 896.1 square meters.

It is classified as a Grade A office and support space, spread across a basement level, ground floor, and five upper floors. The building also features a rooftop terrace on the fifth floor.

Upon completion of the acquisition, the property is expected to serve as one of the global headquarters for AMTD, The Art Newspaper, and L'Officiel.