General Announcement::Announcement by First Sponsor Group Limited, an as... Page 1 of 1
General Announcement::Announcement by First Sponsor Group Limited, an associate of Millennium & Copthorne Hotels plc
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General Announcement 26-Dec-2017 12:07:18
New
Announcement by First Sponsor Group Limited, an associate of Millennium & Copthorne Hotels plc
SG171226OTHRDTCN
Enid Ling Peek Fong
Company Secretary
First Sponsor Group Limited ("FSGL"), an associate of Millennium & Copthorne Hotels plc, has on 26 December 2017 released an announcement relating to the acquisition of another office property in Amsterdam Main Central Business District for EUR55.5 million.
For details, please refer to the announcement posted by FSGL on the SGX websitewww.sgx.com
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Ann... 26/12/2017
Asset Acquisitions and Disposals::First Sponsor Acquires Another Office Property In Amsterdam Main Central Business District
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Asset Acquisitions and Disposals 26-Dec-2017 08:08:24
New
First Sponsor Acquires Another Office Property In Amsterdam Main Central Business District
SG171226OTHRN5L3
Neo Teck Pheng
Group Chief Executive Officer
Please see attached.
FSGL - Press Release Meerparc Amsterdam Acquisition.pdf
Total size =784K
FIRST SPONSOR GROUP LIMITED
Co Reg. No: AT-195714 | Business Address: 63 Market Street, #06-03 Bank of Singapore Centre, Singapore 048942 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Press Release
FIRST SPONSOR ACQUIRES ANOTHER OFFICE PROPERTY IN AMSTERDAM MAIN CENTRAL BUSINESS DISTRICT FOR €55.5 MILLION
Singapore, 26 December 2017 - Singapore Exchange (SGX) mainboard-listed First Sponsor Group Limited ("First Sponsor" or the "Company", and together with its subsidiaries, the "Group"), is pleased to announce that the Group has, through a wholly owned subsidiary on 22 December 2017, entered into a sale and purchase agreement for the proposed acquisition of the majority apartment rights of Meerparc, a mixed use office building in Amsterdam, the Netherlands (the "Acquisition") for a total consideration of €55.5 million (S$88.6 million) including transaction costs.
Meerparc is a five-storey strata-titled freehold property located in the South Axis, the main central business district of Amsterdam. The multi-tenanted property with a substantial office component is situated right next to the Zuiderhof I building, the Group's first office property investment in the Netherlands acquired in early 2015 (as member of a consortium). Similar to Zuiderhof I which is fully let to a reputable law firm, the anchor tenant of Meerparc is DLA Piper Nederland B.V. which has a relatively long remaining lease. The property is conveniently located near the A10 highway exit which connects to the Netherlands' main A1, A2, A4 and A9 highways. It is also within 5 minutes' walk to the Amstelveenseweg metro station and is a 10 minutes' drive from Schiphol Airport.
Mr Neo Teck Pheng, Group Chief Executive Officer, said, "The Group is pleased to expand its presence in Amsterdam South Axis via the acquisition of the majority apartment rights of Meerparc which will further enhance the recurrent income of the Group. Similar to Zuiderhof I, Meerparc has the same excellent view of the Nieuwe Meer Lake amidst a vibrant business environment backdrop. The prime location and freehold tenure of the property also means that this property has good redevelopment potential."
Meerparc building
Amsterdam South Axis, the Netherlands
Details of the Acquisition
• A five-storey strata-titled freehold building situated in Amsterdam's main central business district.
• Multi-tenanted with substantial office component.
• Located near the A10 highway exit which connects to the Netherlands' main A1, A2, A4 and A9 highways.
• Post completion, the Group owns 100% of office area, approximately 85% of retail/commercial area and approximately 93% of car park lots in the property.
Apartment rights (parcel of land involved: Freehold) 9,744 sqm
Approximately 12,200 sqm of office area, 4,618 sqm of retail/commercial area and 218 car park lots.
The remaining 772 sqm of retail/commercial area and 15 car park lots in Meerparc are owned by third parties.
€55.5m (S$88.6m) 5.0 years
73%
- End -
1 Including estimated transaction costs consisting of inter alia real estate transfer tax.
2 WALT and occupancy of office area as at 30 November 2017.
For media enquiries, please contact:
Mr Zhang Jiarong
Vice President - Financial Planning & Analysis First Sponsor Group Limited
Email:ir@1st-sponsor.com.sg
Tel: (65) 6436 4920 Fax: (65) 6438 3170
About First Sponsor Group Limited
First Sponsor Group Limited ("First Sponsor", and together with its subsidiaries and associated companies, the "Group"), a mixed property developer and owner of commercial properties (including hotels) in the People's Republic of China ("PRC") and the Netherlands, and a provider of property financing services in the PRC and the Netherlands, was listed on the Mainboard of Singapore Exchange Securities Trading Limited on 22 July 2014. The Group is supported by both its established key controlling shareholders, the Hong Leong Singapore group of companies, through its shareholding interests in Millennium & Copthorne Hotels plc and Tai Tak Estates Sendirian Berhad, a private company with a long operating history, which was incorporated in Singapore in 1954.
Please visitwww.1st-sponsor.com.sg for the Group's financial statements and investor presentations.
CDL - City Developments Ltd. published this content on 26 December 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 December 2017 04:54:09 UTC.
Original documenthttp://media.corporate-ir.net/media_files/IROL/60/60774/CDL.FSGL-26.12.2017.pdf
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