VIDEO: Resolution Property has sold the Alphabeta building, EC2, to Indonesia’s Sinar Mas Land for £280m, a 4% yield.
The building, which reached practical completion this month, is 96% let to tenants including Maxus Global, Open Table, We Are Social and Mendeley.
Resolution head of UK Investment Jacob Loftus said: “The asset will continue to benefit from the continual growth of the Shoreditch market, providing good reversionary potential to the future owners.”
A Sinar Mas Land spokesman added: “The purchase of Alphabeta will strengthen our portfolio of investment properties in London and further diversify our income streams which are derived principally from Indonesia.”
Allsop and GM Real Estate advised on the sale; CBRE represented the purchaser. Letting agents on Alphabeta are Allsop and Savills; Robert Wolstenholme was consultant to Resolution Property on the disposal.
Click below for an exclusive look inside Alphabeta, featuring a dedicated ramp for cyclists to ride straight off the street and into the locker.
