4 business parks worth￡686 million or $1.2 billion Singapore dollars.
Frasers Centrepoint acquires 4 business parks in the UK
That’s how much Frasers Centrepoint (FCL) has invested in making a mark. The 4 business parks are Winnersh Triangle in Reading, Chineham Park in Basingstoke, Watchmoor Park in Camberley and Hillington Park in Glasgow. The total built area of the 4 business parks come up to be 4.9 million sq ft.
FCL has had a presence in the UK and Europe for the past 15 years, though mainly in the residential, hospitality, industrial and logistics sectors. They are hoping to expand into the commercial and business park sectors with this recent acquisition. Plus points are their ability to leverage on existing networks in their industrial, logistics, commercial and business parks pursuits in Australia, Germany, the Netherlands, Singapore, and Thailand.
Acquisition in line with FCL’s plans to create overseas presence
These 4 freehold properties are a debut move from Frasers Property International, a wholly-owned subsidiary of FCL. This may be their first foray into a new market segment but it is a well-thought-out move. FCL group’s chief executive officer Panote Sirivadhanabahkdi has mentioned that these acquisitions will help grow the group’s presence overseas.
This new market segment seems to be a promising one. Frasers Property has already entered into a conditional agreement to purchase yet another business park – Maxis, Bracknell.