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The Employee Provident Fund (EPF) of Malaysia has in 1Q2020 purchased a prime office in London for £324m (approximately RM1.675 billion). The London office was purchased by CBRE Global Investors on behalf of EPF, from Greycoat and Morgan Stanley.

The prime piece of property is coined as the Premier Place, and is sited within the city of London at Devonshire Square. In the deal signed with the selling party, the capital value of the property is £1,383 per ft2 with a net initial yield of 4.30%.

The Premier Place is a building of 12 storeys, inclusive of 3 levels of basement parking and 3 levels of retail outlets. The building is currently occupied by Squire Patton Boggs and Jane Street Capital, two office tenants with a long term contract.

According to CBRE Global Investors, the vendor for EPF, the purchase of Premier Place is a great addition to EPF’s portfolio of investment properties.

Senior Director, Chris Gilchrist-Fisher of CBRE Global Investors stated, “This is an opportunity to acquire a prime office in an excellent location with weighted average unexpired lease terms of 15 years and let to two strong covenants. It’s a strong addition to our client’s portfolio.”


(23 March 2020)

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Overseas building is undervalue and have more potential for appreciation and rental yield?

seem like EPF buy quite a lot of overseas building.