EPF makes first property disposal in UK for 210 million pounds
Bernama
April 14, 2015 08:01 MYT
April 14, 2015 08:01 MYT
To date, the EPF owns significant real estate investments in the UK and other key markets.
The Employees Provident Fund (EPF) has entered into a sale and purchase agreement with British Land for One Sheldon Square in London for 210 million pounds (1 pound = RM5.43).
"This marks the Funds first property disposal in the United Kingdom (UK)," it said in a statement here.
The EPF acquired the property in 2010. One Sheldon Square comprises nearly 200,000 sq ft of freehold office space arranged over nine floors. It is fully let to Visa Europe Services until December 2022.
British Land won the bid through an open tender process designed in accordance with the Funds strict corporate governance, as well as adherence to the industry’s practices.
To date, the EPF owns significant real estate investments in the UK and other key markets such as Germany, France, Australia and Japan.
It also continues to diversify its investments across markets, sectors and asset classes to provide optimal and long-term sustainable returns.