10 Great Pulteney Street acquired for £57 million

Singaporean Investor Sinar Mas Land has acquired the freehold of 10 Great Pulteney Street from GE Capital.

The 47,000 sq ft office building,  which includes five residential flats, is let in its entirety to communications firm Creston, at a low rent of £43 per sq ft on a lease expiring September 2019.

A rent review is due on 28th September 2014.

Sinar Mas Land is the largest property developer in Indonesia and also has operations in China, Malaysia and Singapore, investing in commercial buildings, hotels and resorts.

It made its debut London deal in Covent Garden in May last year, buying the New Brook Buildings from Henderson Global Investors for £84m.

Hanover Green advised on the the purchase of 10 Great Pulteney Street and have been retained to act on the rent review this month.