EPF sells London property to British Land
In its first property sale in the United Kingdom, Malaysia’s Employees Provident Fund has sold One Sheldon Square in London to British Land Co for £210 million (US$311 million).
One Sheldon Square comprises about 18,580 square metres of freehold office space arranged over nine floors. It is fully let to Visa Europe Services until December 2022, with a rent review in December 2017.
EPF purchased the office in 2010 for £166.6 million (US$246.5 million) from Aviva Investors, Invista Real Estate Investment Management, Henderson Global Investors and Liquid Realty Partners.
To date, EPF has made significant real estate investments in the United Kingdom, Germany, France, Australia and Japan.