London, 5 June 2022 – Sinar Mas Land through Sinarmas Land Limited which is listed on the Singapore Stock Exchange, is back to expanding overseas. This time, the company has settled to acquire a premium commercial building forms as an office building for £195 (IDR3.6 trillion) at 32-50 Strand, London from current owners LS City and West End Limited, part of LandSec. The acquisition will be completed in June 2022.
This property comprises of an area of approximately 139,000 square feet (sq ft) over its ground floor, basement, and 8 upper floors. The building is located at the western end of the Strand and next to the Charing Cross Station, which is just a short walking distance from London’s Trafalgar Square.
Director of Sinar Mas Land – Herry Hendarta explained, “The acquisition of property buildings in the City of London is a corporate effort to be more present in the international property competition. This steps also emphasizes the diversification of the investment portfolio of the group. We selected to invest in UK again considering most of Sinar Mas Land’s revenue contribution from all overseas properties comes from office rentals in London.”
Since 2013, Sinar Mas Land has owned a number of commercial properties in the City of London, including the Alphabeta Building, with a total investment value of £280 million, and 33 Horseferry Road with a total investment value of £215 million. In addition, Sinar Mas Land has also a number of overseas property projects, such as residential and leisure centers outside Indonesia.
Furthermore, Sinar Mas Land also owns properties in China, such as residential areas in Taicang, Shenyang, and Chengdu with a total land area of 246,000 square meters. While in Malaysia, there are hotels and resorts with a land area of 300 hectares. Sinar Mas Land also acquired a property developer in the United States to expand the company's footprint globally.