The park, which is located at Bedfont Lakes, Feltham, Middlesex, comprises three individual high-specification office buildings and has a net lettable area of 25,270 sqm. The property is also leased on a long-term basis as the United Kingdom headquarter campus for multinational tech firm Cisco Systems Limited.
FPL says that the acquisition cost is payable in cash, and will be funded from internal resources.
The group adds that the acquisition is not expected to have any material impact on its earnings per share and net tangible asset value per share for the current financial year.
As at 9.36am, shares in Frasers Property are trading flat at $1.73.
