Usaha Tegas Group is buying St John’s Wood Barracks for £250 million, Property Week reports. The Malaysian conglomerate has hired London Square as project manager for the scheme and is investing through Visionary Properties, a Jersey-listed subsidiary. With London Square doing the bidding, the UT group is understood to have exchanged contracts to purchase the property being auctioned by Knight Frank.
The other bidders for the barracks, owned by Eyre Estate, included Native Land, Topland and Finchatton. Usaha Tegas Group is owned and headed by entrepreneur Ananda Krishnan, one of South-east Asia’s richest businessmen and a philanthropist of Tamil origin.
Click here for the story from Property Week.