Country for PR: China
Contributor: PR Newswire Asia (China)
Tuesday, February 11 2020 - 16:46
AsiaNet
FEC Announces Acquisition of Ensign House, Canary Wharf, London
HONG KONG, Feb. 11, 2020 /PRNewswire-AsiaNet/ --

Far East Consortium International Limited ("FEC" or the "Group") is pleased to 
announce the acquisition of Ensign House in Canary Wharf, London at a 
GBP28,250,000 consideration. Located on the north side of Marsh Wall, the 4,572 
square metre site sits adjacent to Consort Place, which is a property 
development owned by FEC consisting of 634-residential unit and 231-room hotel 
development with a targeted completion in 2023. The site currently comprises an 
office building with a surface car park which will be demolished and replaced 
with a residentially-led mixed use development. Ensign House benefits from 
excellent connectivity, located at an approximate 5-minute walk from Canary 
Wharf itself and Canary Wharf Station, from which is currently approximately14 
minutes into Bond Street by rail. The Elizabeth Line (Crossrail) is due to open 
in 2020 and will improve connectivity further with Liverpool Street Station of 
approximately 7 minutes away and Heathrow Airport an approximate 39-minute 
journey. The circa GBP250m development will serve an increasing residential 
demand for housing in the area whilst FEC continues to work with local 
authority, London Borough of Tower Hamlets to deliver a scheme which will also 
deliver high quality, community-focussed public space.

Mr Chris Hoong, the Managing Director of FEC, announced: "We are very delighted 
with this acquisition which will significantly strengthen FEC's development 
presence in Canary Wharf. Residential demand in South Quay is thriving and 
we're looking forward to continuing to work with Tower Hamlets to deliver a 
highly desirable place to live."

Photo - https://photos.prnasia.com/prnh/20200211/2716895-1 
FEC has successfully acquired Ensign House in Canary Wharf, London

About Far East Consortium International Limited

Far East Consortium International Limited has been listed on the Hong Kong 
Stock Exchange since 1972 (HKEx stock code: 35.HK). The Group is mainly engaged 
in property development and investment, hotel development and management, car 
park operations and facilities management, securities and financial product 
investment and gaming operations. The Group adopts the diversified regional 
strategy and the "Asian Wallet" strategy with business covering Hong Kong, 
Mainland China, Australia, New Zealand, Malaysia, Singapore, the United Kingdom 
and other European countries.

FEC official website: 
www.fecil.com.hk


FEC Weibo: 
http://www.weibo.com/u/5703712831


SOURCE: Far East Consortium International Limited

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   Caption:  FEC has successfully acquired Ensign House in Canary Wharf, London