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MEDIA CENTRE
(Hong Kong, 7 May 2015) Emperor International Holdings Limited (“Emperor International” or the “Group”) (Stock code: 163) today announced the acquisition of a retail and office complex located at Nos. 25-27, Oxford Street, London, W1D 2DW, United Kingdom (the “Property”), at a consideration of GBP£35,500,000, equivalent to approximately HK$419,645,500.
The Property is a 8-storey (including basement) retail and office complex with a floor area of approximately 11,596 sq.ft.. Such acquisition is expected to be completed on 29 May 2015. The Group intends to use it as property investment purpose in the long-run.
Mr. Donald Cheung, Executive Director of Emperor International, said, “Opposite to the Primark, an iconic European department store, the Property is located at a prominent shopping hub in London, which is one of the popular tourist spots for international visitors. It is also nearby to Tottenham Court Road subway station. Further, we expect that it can fully capitalise a huge potential of the commencement of the Crossrail in London in 2018, which is a direct transport link to London Heathrow Airport. We are optimistic towards the potential rental increment and capital appreciation in the long-term. Subsequent to the acquisition of Nos. 181-183, Oxford Street in last November, this acquisition demonstrated the Group’s determination to expand its overseas property investment portfolio for widening the rental revenue base.”
