Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Asian investors buy office buildings in London

by Andrea Waitrovich

In separate deals, two London office buildings are under contract to be sold for a total sales price of £458.7 million ($720 million).

Indonesia-based Sinar Mas Land has agreed to pay approximately £258.7 million ($406.1 million) to Resolution Property for the 243,850-square-foot office Alphabeta Building in City of London. The deal is expected to be completed in September 2015.

The 10-story building is located in eastern London, near the Shoreditch area, which is known for its creative and commercial innovation. The office building is fully leased on a triple-net basis, and major tenants include SEI, Silicon Valley Bank, Maxus Global, We Are Social and OpenTable.

Resolution bought the building, formerly known as Triton Court, in summer 2012 for £43 million ($67 million) from LPA receivers on behalf of HSH Nordbank, and carried out a comprehensive refurbishment and repositioning.

Alphabeta is the Sinar Mas Land’s third

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?