FPT Targets London Business Park for ฿5.4bn, Expanding Leasehold Business Overseas!

The Business Times has reported that Frasers Property (Thailand) Public Company Limited (FPT) said on Thursday that it is acquiring Lakeshore, Bedfont Lakes business park in London for £135 million (approx. 5,394 million baht) through its indirect subsidiary, Frasers Property Holdings UK.

 

The report said that the company has entered into a sale and purchase agreement to acquire the entire stake in Bedfont Lakes Limited, which holds the freehold interest in the business park comprising three office buildings.

The business park is located at Bedfont Lakes, Feltham, Middlesex, with a capable area for lease of about 25,270 square meters. Currently, Cisco Systems, the multinational tech firm, has a long-term lease at the property for its headquarter campus.

FPT said that the payment is payable in cash and will be funded from internal resources. It is also subject to adjustments according to the terms of the sale and purchase agreement.

On January 23, 2020, FPT closed at ฿14.60/share, declined ฿0.10/share or 0.68% with a trading value of 632,000 baht.