Cheung Kei Group Acquired the 20 Canada Square, A Landmark Grade A Office Building in Canary Wharf, London

2017.07.19

On July 18, 2017, Hong Kong Cheung Kei Group officially purchased the landmark A-level office building 20 in Canary Wharf, London with GBP410 million and proposed to rename it "Cheung Kei Center".

Cheung Kei Center in London

The property is located in the financial core area of Canary Wharf, London, close to the Thames, with multidimensional traffic network, surrounded bythe headquarters of the world's leading banks, branches and corporate giants, such as China Life, Credit Suisse, Citibank, HSBC, Morgan Stanley, JP Morgan, Bank of America, Barclays Bank and gathered many high-end elites.

In March this year, Brookfield attracted many international buyers the property is listed for sale. According to media reports, Hong Kong Cheung Kei Group finally defeated buyers such as Saudi consortium Sidra Capital, HSBC's Alternative investment division, Hong Kong Nanfeng Group and China Kingboard Chemical and have won bids for a one-off cash payment of GBP410 million in a month and bought the property, setting a record for nearly three years in the region.

Chairman Chen Hongtian shook hands with seller at property receiving ceremony

Chairman Chen Hongtian, Executive Vice President Chen Xiaoxia and the seller celebrate together in the property receiving ceremony

Designed by the renowned SOM (Skidmore, Owings and Merrill), the London Cheung Kei Center has 16 floors, with an area of about 750,000 square feet, and is a landmark A-level office building at the heart of Canary Wharf Financial district in London. The building has the world's largest petrochemical conglomerate - British Petroleum Company, Ltd. (deal with financial transactions in energy) and the world's authoritative financial analysis agency – Standard & Poor's. The annual rental rate of the building is as high as 5.35%, and the future lease income will be stable, and it will bring a high investment value of about USD300 million a year for the Group.

Vice President Chen Pengyu and the team of Credit Suisse celebrate the acquisition

Cheung Kei Group, founded in 1990, with Hong Kong Cheung Kei Group and Shenzhen Cheung Kei Group respectively responsible for overseas and domestic business, is headquartered in Hong Kong and Shenzhen. It is International value investment group with value investment and business civilization modelas the core and holds multiple stable assets for a long-term. It is renowned in Guangdong and Hong Kong. The Group focuses on the investment and acquisition of high quality enterprises and properties in the global core urban economic circles. It shares capital trends and urban development dividends and formed the two driving modes of "investment + operation". Until now, the Group has held huge stocks, equities, bonds and other financial assets, but also wholly own high-quality property assets of millions of square meters of land, office buildings, star hotels, commercial, mining all over the world including Hong Kong, London, Shanghai, Shenzhen and other core cities, as well as Europe and the major cities of Southeast Asia.

Representatives of Cheung Kei Group and Credit Suisse

This is another strong commercial acquisition of Hong Kong Cheung Kei Group after it purchased Hung Hom Cheung Kei Group in Hong Kong last year with HKD4.5 billion. It further expanded the Group's allocation scale on high- quality properties of the global core urban economic circles and effectively enhance its competitiveness in the global investment market.