JAKARTA: Sinar Mas Land Group has acquired one of London’s iconic commercial buildings, the Alphabeta Building, for 259.3 million pounds (US$397 million).
According to Sinar Mas executive director Ferdinand Sadeli, the acquisition further enhances the company’s property portfolio as well as its position as one of the leading property firms in London.
“It will also enhance our investment portfolio’s diversification,” said Ferdinand in a press release on Tuesday as quoted by kompas.com.
Situated at the intersection of Silicon Roundabout, Shoreditch and the City, the 25,000 square meter building has nine floors and 210 bicycle parking spaces in the basement.
Sinar Mas Land Group has conducted transactions worth more than $714 million in London in the 2.5 years since its first acquisition in June 2013.
