SINGAPORE (July 29): Stamford Land Corporation and its executive chairman has acquired a London property for £260 million ($441.2 million) to augment its earnings.

Located at 8 Finsbury Circus, the freehold Grade A office and retail property has a net lettable area of about 180,000 sf, comprising 10 floors of Grade A commercial office units with ancillary retail units. The last redevelopment was completed in 2016.

The property is fully let out to one retail tenant and four office tenants. It has a weighted average unexpired lease term (WAULT) of nearly 14 years.

Stamford Land acquired a 60% stake in the property, while Ow Global, owned by executive chairman CK Ow acquired the remaining 40%.

Stamford Land owns and manages a chain of five-star hotels in Australia and New Zealand. The company also owns commercial properties and recently completed a 712-unit residential development in Sydney.

As at 12.47am, shares in Stamford Land were trading flat at 48 cents.

<ul><li><a href="https://www.theedgesingapore.com/capital/results/stamford-land-posts-72-fall-1q-earnings-48-mil-lower-sales" target="_blank">Stamford Land posts 72% fall in 1Q earnings to $4.8 mil on lower sales</a></li><li><a data-jsx="2507428981" href="https://www.edgeprop.sg/property-news/home-buyers-return-london%E2%80%99s-property-market-amid-greater-certainty" target="_blank">Home buyers return to London’s property market amid greater certainty</a></li><li><a data-jsx="2507428981" href="https://www.edgeprop.sg/property-news/analysts-pick-london-ho-chi-minh-singapore-property-investors-seeking-avoid-hong-kongs-woes" target="_blank">Analysts pick London, Ho Chi Minh, Singapore for property investors seeking to avoid Hong Kong's woes</a></li></ul>

Stamford Land and chairman buy London office property for $441 mil

VTAC proposes business combination with live streaming platform 17LIVE

Data is the new oil but is it as dirty?

'Transition credits' could sweeten deal for early retirement of coal-fired power plants: MAS, McKinsey paper

DPM Lawrence Wong appointed as GIC’s deputy chairman

Will the Rising Sun keep rising?

Trade Stocks, ETFs, Forex and Futures with Phillip Nova:

Stamford Land and chairman buy London office property for $441 mil

Related News

Highlights

VTAC proposes business combination with live streaming platform 17LIVE

Related News

Stamford Land's proposed disposal of Sir Stamford in Sydney unable to proceed [update]

Stamford Land clarifies property sale prices for disposals of Auckland assets

Stamford Land forms new sale and purchase agreement to sell Sydney property for $197.3 mil