British Property Award Winner 2017
In a deal that will allay concerns that Chinese buyers would cut back
spending in 2018, residential firm Country Garden has snapped up the
Ailsa Wharf project in Poplar. Planning consent is in place there for
It is understood to be fronting a consortium of investors, including a Hong Kong fund.
The purchase comes despite Beijing last year issuing rules to limit
overseas deals in property, hotels, sports clubs and the film industry.
In August, Chinese developer Dalian Wanda ditched plans to spend £470 million on a Nine Elms deal.
Country Garden bought the London site from developers Galliard Homes and Lindhill.
Galliard’s chief executive Donagh O’Sullivan said: “In the current
political climate of uncertainty, with so many unknowns around Brexit
and the international trade issues being raised for China by the US, it
is a ringing endorsement for the UK to have Country Garden make a
Source: Evening Standard
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