Main Photo: The proposed development of Ensign House into residential and a 231 room hotel
Date: May 2020
Location: Canary Wharf, London, England, UK
Name: TBC – Consort Place
No. of Keys: 231
Seller: 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.
Buyer: Hong Kong Stock Exchange-listed company Far East Consortium International Limited (FEC) has acquired Ensign House, an office property in Canary Wharf, London for £28,250,000.
FEC operate in China, Hong Kong, Malaysia, Singapore, Australia, New Zealand and Europe…with hotels like the Ritz Carlton Perth, the Silka brand, Trans World brand and are strategic shareholders in Dorsett Hospitality (20+ hotels).
The property is located on the north side of Marsh Wall, the 4,572 square metre site sits adjacent to Consort Place in Canary Wharf. FEC plans to build a mixed-use property which will comprise 634-residential unit and a 231-room hotel.The £250m mixed-use project is expected to complete in 2023.
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 around 15 minutes into Bond Street by rail. The Elizabeth Line (Crossrail) is due to open in 2020 (hmmmm!) and will improve connectivity further with Liverpool Street Station 10 minutes away and Heathrow Airport an approximate 40-minute journey.
The circa £250m 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.
“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,” said Chris Hoong, the Managing Director of FEC.
THPT Comment: FEC are growing nicely in London with this deal and their holding in Dorsett Hospitality.
First Seen: CRE Herald
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