Indonesian real estate company Sinar Mas Land has sold a £72m (€83m) office and residential property in the UK to an unnamed buyer.
The Singapore-listed company has sold The Unlimited House, which houses a 44,115sqft office and a self-contained five-unit residential block, in the London suburb of Putney.
Sinar Mas said disposal at this time of capital appreciation of property in the same area provided an opportunity to realise “an attractive rate of return” on its investment. The asset was held on the company’s book at £56.5m.
Proceeds from the sale would be used for working capital and/or future acquisition of investment or development properties.
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