Victor Song of Elite Partners Capital
London gets most of the attention from Asian investors but leading today’s set of real estate headlines from around Asia is a Singapore private equity firm betting $360 million on commercial properties in the UK’s small towns. Also, theme parks may seem to be not all fun and games as Malaysia’s Genting sues Disney over a Never-Never-Land that never was and Beijing’s land market might just be starting to bounce back. Read on for all the details on these stories and more.
SG Investor Buys 97 UK Properties for S360M
Singapore-based private equity firm Elite Partners Capital said on Monday (Nov 26) that it has acquired a portfolio of 97 commercial properties in the United Kingdom from British developer Telereal Trillium for £282.15 million ($360 million).
The Hayhill Portfolio of freehold offices is mostly located in town centres across the UK and measures a combined 2.6 million square feet. It is currently let to the UK government’s Department for Work and Pensions on 10-year full repair and insurance leases with built-in rent uplifts until March 31, 2028. Read more>>
Genting Sues Disney, Fox for $1B Over Aborted Theme Park
Walt Disney and Twenty-First Century Fox were sued for more than US$1 billion on Monday (Nov 26) by casino operator Genting Malaysia, which accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park.
Genting said “seller’s remorse” induced Fox, with Disney’s help, to breach its 2013 contract with Fox Entertainment Group (FEG) to license intellectual property for Fox World, a proposed addition to its Resorts World Genting complex, an hour’s drive from Kuala Lumpur. Read more>>
Beijing Sells 12 Land Parcels for RMB 31.6B
The Beijing government’s partial easing of controls on the property market has helped it score record land sales in a single day.
Twelve out of 13 land sites were successfully auctioned off by the Beijing Municipal Commission of Planning and Natural Resources on Monday, earning a total of 31.6 billion yuan (US$4.55 billion) for the city government, and the highest single day record in history. Read more>>
Keppel and Alpha Team Up for Malaysia Data Centre
Keppel Data Centres Holdings and the Alpha Data Fund have teamed up to develop and operate their very first greenfield data centre in Malaysia. Alpha DC Fund entered into agreements with an undisclosed technology company to develop a data centre in an industrial park in Johor state in southern Malaysia.
The initial development of the data centre and subsequent facilities management will be undertaken by Keppel Data Centres. Read more>>
Singapore Industrial Sites Up for Tender
Government agency JTC has launched one site for tender and another site for application under the 2018 Industrial Government Land Sales (IGLS) programme, it announced in a press statement on Tuesday (Nov 27).
The site at Tuas South Link 3 (Plot 20), which is available for tender, is the fifth out of six confirmed list sites for the second half of the 2018 IGLS programme. It occupies a land area of 0.45ha with a gross plot ratio of 1.4, and a tenure of 20 years. Read more>>
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