CapitaLand has entered into an agreement to acquire Arlington Business Park in the United Kingdom (UK) for €151.7m (£129.3m). The scheme is located in Reading, and comprises 11 Grade A office buildings totalling about 367,000ft² of net lettable area (NLA). The business park is conveniently located close to Junction 12 of the M4 motorway, one of UK’s key motorways, providing excellent connectivity for tenants. The London Heathrow International Airport is only a 30-minute drive from the business park. The Theale train station is five-minute walk away from the business park, offering direct access to London within 40 minutes. The Crossrail train line, which is due to open in 2021 will further improve connectivity, reducing travelling time into Central London.
Jason Leow, President, Singapore & International, CapitaLand Group, said: “The acquisition of Arlington Business Park is part of CapitaLand’s plan to increase our investments in developed markets such as Europe, Japan and the USA. Our strengthened presence in Europe will enable the Group to maintain a balanced portfolio between emerging and developed markets. Post integration with Ascendas-Singbridge, we have acquired a strong expertise in business parks. We can leverage this deep experience and our strong network of tenants to value add to Arlington Business Park. As we build up our portfolio in Europe, we have greater optionality in spinning off such assets into investment vehicles or partnerships, continuing to deliver value for our stakeholders.”