Beloved Disney Star Wars Sandcrawler Office Building Will Be Purchase By Blackstone Group
Sandcrawler Office Singapore, the iconic facility owned by Lucas Real Estate Singapore is set to be sold off to Blackstone Group, an American private equity company for about S$175.8 million, according to latest media reports.
Reports suggest that CBRE has brokered the deal but sale process is still underway and until there is an approval from JTC Corporation, nothing is finalized.
Sandcrawler has a futuristic look and is shaped as a horseshoe. The fictional vehicle from the Star Wars franchise was the inspiration for this unique design.
Situated in Buona Vista’s Fusionopolis cluster, it is a state-of-the-art compound which also houses Lucasfilm’s VFX and animation studio known as ILM or Industrial Light and Magic.
It is an 8 storey office building having an occupancy rate of about 90%. According to market experts, the indicative price of S$175.8m shows that the building has had a yearly 4% yield in profit which they have determined based on current rental income.
Other major tenants apart from ILM include GovTech (Singapore Government Technology Agency), Walt Disney Company (Lucasfilm’s parent company), DBS innovation centre and ESPN Asia Pacific.