Amcorp Properties' strategy is to acquire properties in prime central London for value-add or redevelopment into upmarket and highly coveted properties.
KUALA LUMPUR: Amcorp Properties Bhd has stepped up its plan to buy more properties in London and the latest being a joint venture to buy apartments in heart of Belgravia for £45mil (RM262.35mil).
The company said on Monday the property located at Kilmuir House, Ebury Street, London comprised 49 two-bedroom apartments.
Last Friday, AmProp’s unit Amcorp Kilmuir Ltd had signed a subscription and shareholders’ agreement with Clan Kilmuir (Jersey) Ltd to regulate their participation in the JV company Kilmuir House (Jersey) Ltd.
The JV company had on the same day signed an agreement with Mayor’s Office for Policing and Crime to acquire the leasehold property.
“The JV is an extension of AmProp’s strategy to acquire properties in prime central London for value-add or redevelopment into upmarket and highly coveted properties.
“This will continue our existing offering of luxurious residential developments in prestigious areas of prime central London such as Kensington, Mayfair and South Bank,” it said.
