Singapore-listed The country’s second Mas Land controlled by Indonesia’s second most affluent family. The Widjajas through its entity SML Strand. He has signed a £195 million ($240 million) purchase deal with Land Securities Group for a downtown commercial building. London. According to a listing on the Singapore Stock Exchange, Thursday.
The family’s latest acquisition, The country’s second vacant property at 32-50 Strand. London, is in a superb location next to Charing Cross Station and just a few minute’s walk from Trafalgar Square. The commercial building covers about 139,000 square meters in the basement, ground floor, and eight floors.
“This acquisition will further strengthen the group’s recurring income by adding a critical asset with strong cash flow,” said Robin Ng Cheng Jet, director of Sinar Mas Land.
The Group plans to use domestic cash and debt to finance the acquisition. Which should be completed by the end of June. Upon completion, the property will become one of the Group’s subsidiaries.
Sinar Mas Land previously sold one of its London properties at 10 Great Pulteney Street to online fashion retailer Boohoo for $99.3 million last year. He also owns another property near London, the Alphabeta Building, which the company bought for £280m. In addition, the company owns properties in several countries, including Malaysia, Australia, and China.