Straits Trading is making another significant expansion into the UK with a GBP130 million ($219.4 million) acquisition of a portfolio within a business park.
The portfolio consists of nine office and industrial buildings with a net lettable area of 522,000 sq ft, and six plots of development land totalling 830,000 sq ft.
According to Straits Real Estate CEO Desmond Tang, the acquisition of this portfolio, within the Gloucester Business Park, will help generate a “balanced blend” of recurring income at an attractive yield, and also potential upside from development.
“Following our acquisition of Bourne Business Park in Surrey, UK, we are delighted to acquire this portfolio of high-quality business assets in Gloucester Business Park as it fits our overall investment focus on new economy assets,” says Tang.
Straits Trading closed on June 29 at $2.88, down 0.35%.
