On Dec 14, Frasers Commercial Trust (FCOT) announced that, together with parent Frasers Centerpoint Limited (FCL), will jointly acquire a prominent business park west of London.
The Business Park is valued at 175 mil pounds (SG$315.6 mil) and would be acquired by the JV at 175 mil pounds (SG$315.5 mil). FCOT will pay 88 mil pounds (SG$158.7 mil) for their 50% share.
Any outstanding rent free incentives granted by the existing owner of the property will be paid to the JV. There is a car showroom that will be completed in Jan 2019. The existing owner will pay a monthly contracted rent and service charges from this time till the car showroom is completed.
According to FCOT:
- FCL has local network and experience in UK, which is their 3rd major market after Singapore and Australia. They have been operating there for the past 15 years
- The business ...