Sinarmas Land to purchase London property for S$161m

It's a 12-storey tower.

In a release, Sinarmas Land Limited announced that it has entered into an agreement for the sale and purchase of the property known as New Brook Buildings, 8-18 Great Queen Street, London, United Kingdom.

This will be through the sale and purchase of (a) the entire issued units of the Unit Trust; and (b) the entire issued share capital of the nominees, for an aggregate cash consideration of £84,046,910.47 (equivalent to approximately S$161,117,927) plus the amount (if any) by which the value of the current assets of the Unit Trust less its liabilities  exceeds £0 (zero), or minus the amount (if any) by which the Completion Statement Value falls short of £0 (zero), upon the terms and subject to the conditions set out in the agreement.

The property is a freehold Grade A office building consisting of a 12-storey tower connected to a 9-storey wing, with a net lettable area of approximately 99,911 square feet.