Sinarmas Land Limited said on Thursday that it is planning to buy a London property for £84.05 million (about S$161.12 million).
New Brook Buildings, 8-18 Great Queen Street, is a freehold Grade A office building consisting of a 12-storey tower connected to a 9-storey wing, with a net lettable area of about 99,911 square feet.
The proposed acquisition is expected to enhance the group’s portfolio of investment properties. Being its first foray into the London property market, the group will benefit from the diversification of its present revenue streams whichare derived principally from Indonesia.
The agreement was entered on April 30 by SML Jersey Brook Pte Limited (SJB) and SML Brook Partners Pte Limited (SBP), wholly-owned subsidiaries of the group.