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RIL buys iconic UK property Stoke Park for $79 million


Firms/companies > R > Reliance Industries
RIL buys iconic UK property Stoke Park for $79 million
23 April 2021
Mukesh Ambani owned- Reliance Industries Ltd (RIL) has bought iconic Britih property Stoke Park for 57 million pounds ($79 million) as part of its moves to reduce dependence on oil business and expand into consumer-facing businesses.
RIL’s UK arm, which will own the business, said in a regulatory filing that Stoke Park, which owns a hotel and golf course in Buckinghamshire, UK, will add to RIL s consumer and hospitality assets.
Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds, RIL stated in the filing. ....

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Market Talk – May 6, 2021 | Armstrong Economics


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ASIA:
China has “indefinitely” suspended key economic dialogue with Australia, the latest in a growing diplomatic rift between both countries. The relations between two countries have been on the decline since Australia called for a probe into the origins of the virus and banned Huawei from building its 5G network. In a statement on Thursday, a Chinese government commission accused Australia of having a “Cold War mindset”. Last year, China imposed sanctions on Australian goods like wine and beef.
Growth in India’s dominant services sector eased to a three-month low in April but remained unexpectedly resilient even as the COVID-19 crisis intensified and cost pressures rose at the fastest pace in over nine years, a private survey showed. The Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 54.0 last month from 54.6 in March, its lowest since January but still well above the 50-mark separating growth from contraction. A Reuters pol ....

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Last-mile Queens warehouse trades for $58M | Real Estate Weekly


Elion Partners, a Florida-based real estate private equity investment firm, has acquired a 180,200 s/f last-mile logistics asset located at 182-20 Liberty Avenue in Jamaica , Queens, for $58 million.
Situated five miles from John F. Kennedy International Airport, the property expands the firm’s last-mile logistics portfolio and is a part of a series of acquisitions across key coastal logistics markets.
In February, Elion acquired a 207,000 s/f last-mile logistics asset located at 1000 Jefferson Avenue in Elizabeth, NJ, two miles from the Newark Liberty International Airport.
JAMES LAMBERT
“This acquisition complements our portfolio well and offers ample parking not traditionally seen in this market,” said James Lambert, Senior Managing Director of Industrial Investments at Elion. “We look forward to continuing the expansion of Elion’s logistics portfolio across the northeast.” ....

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