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UOL-UIC JV acquires London property for £230 mil

PC Lee Published on Fri, Sep 30, 2016 / 7:15 PM GMT+8

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SINGAPORE (Sept 30): A joint venture between a subsidiary of UOL Group and subsidiary of UIC is acquiring a freehold London property for a consideration of £229.6 million ($406.4 million).

Approximately 113,256 sf in size, the property is located in Farringdon and is within walking distance to two tube stations. It is 100m from Chancery Lane Tube Station and 300m from Farringdon Tube Station interchange and the upcoming Cross Rail.

The property has a Net Lettable Area of 349,088 sf. 56.5% or 197,266 sf of the property has been designated for office use while 43.5% or 151.862 sf has been set aside for retail use.