The Indonesian investor behind the £280m purchase of the AlphaBeta building, EC2, is preparing to move into UK development.
Sinar Mas Land has bought and sold £600m of well-let office buildings in the UK since it made its debut in 2013 but is now planning to take on more risk in search of better returns.
In the company’s first UK interview, head of mergers and acquisitions Aswin Gunawan told Estates Gazette it would seek to partner with established local players on London refurbishment and redevelopment opportunities.
He said: “The group is now looking into more adventurous projects. Not necessarily big Broadgate-type developments, but maybe we would get our hands a bit more dirty this time.”
The firm does not yet have anyone based permanently in the UK. “If we were to do a development, we would have to set up a small platform here just to start,” said Gunawan.
The first UK refurbishment project for Sinar Mas Land could be 10 Great Poultenay Street, W1, which it bought in 2014. Its leases expire in September 2019.
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WATCH: Take a look inside the Alphabeta building.
