Uk Sells Thai Embassy

• 15 January 2018
• Property Focus
• 2982 Views

The UK Foreign and Commonwealth Office (FCO) is to sell its 3.7ha Bangkok embassy in the Thai capital’s exclusive Wireless Road area for USD600m.

The sale represents the largest ever real estate transaction by the FCO and also, according to the FCO, the “biggest land deal in Thai history”.

The Bangkok embassy is being sold to a joint-venture consortium of Hongkong Land, a member of the Jardine Matheson Group, and Central Group. In 2006, part of the original compound was sold to Central Group, and now houses the Central Embassy shopping mall.

The new Bangkok embassy will be based in the AIA Sathorn Tower in the central business district.

“In a tight fiscal environment, it is right that we take tough decisions to ensure that the UK can maintain a global presence while getting the best value for taxpayers,” Simon McDonald, permanent under-secretary at the Foreign Office in an FCO press release.