By RUTH LYNCH
Malaysian property developers, E&O Berhad have acquired two London office buildings for £57m. These include the vintage office buildings of Landmark House and Thames Tower.
The total area of the two office buildings amounts to 135,448 square feet.
Eastern and Oriental Property UK or EOPUK’s subsidiary, Hammersmith Properties Ltd, started a property sale process with GEMS Hammersmith this month, with the acquisition estimated for completion in March.
It stated that EOPUK has been the platform upon which E&O will develop its real estate investment in London.
Eastern & Oriental Bhd stated: “The proposed acquisition is consistent with the group’s corporate strategy which includes strengthening its overseas growth engine and to establish the E&O brand internationally.”
E&O managing director, Datuk Terry Tham, recognised the potential for refurbishment in both Landmark House and Thames Tower, stating, “Subject to the relevant authority approvals, there is the potential to create Grade A office space and residential accommodation in an area where demand for quality new build property is strong.”
Tham added, “This prime freehold parcel in the established commercial hub of Hammersmith represents a significant refurbishment or redevelopment opportunity for E&O in the future.”
This will be the third London office purchase by the property company. E&O bought Princes House in 2012 as well as ESCA House in 2014.
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