London Office Building acquired by Sinarmas
Sinarmas Land, a Singapore-listed company purchased from General Electric Real Estate a prime freehold commercial property for £57.28 million(S$119 million).
The office building, commonly known as Warwick House, is centrally located in Soho, which is one of London’s growing office sub-markets. Furthermore, the property location has attracted big media companies like 20th Century Fox, Sony Pictures, and along with an international advertising agency, M&C Saatchi.
Warwick House is currently fully leased by global communications group Creston plc on an agreement of “triple net lease,” according to sources and media reports.
The statement added, “The Board of Directors of Sinarmas Land is of the view that this proposed acquisition will strengthen the Group’s portfolio of investment properties in London and further diversify its income streams which are derived principally from Indonesia.”