Global law firm Ashurst represented Far East Consortium International Limited (SEHK: 35), an international company mainly engaged in property development and investment, hotel operations and management, on the acquisition of R&F Properties VS (UK) Co., Ltd., owning the 133,000 sqm gross floor area mixed use development site at Vauxhall Square in Vauxhall, London.
Situated on the southern banks of the River Thames, Vauxhall Square is designated for residential, hotel, office, retail and leisure use. The transaction represents a disposal by R&F Properties of a major property development asset in London. R&F Properties will have the option to repurchase the entire issued share capital of R&F Properties VS (UK) Co., Limited and related intercompany loans from Far East Consortium on or before 6 months after completion.
Global co-head of finance, funds and restructuring Jini Lee commented, "We are pleased to work again with Far East Consortium as they look to accelerate their impressive repertoire of developments internationally. Our team in Hong Kong and UK were delighted to have advised on another successful transaction within a short time period."
Most recently, the firm has also advised Far East Consortium and New World Development on their joint acquisition of Rich Fast International from Kaisa Group, which owns a multi-residential development plot located at Kai Tak, Hong Kong.
The transaction was led by partners Jini Lee, Daniel Lau, Chin Yeoh and Li Jiang (Hong Kong) and Melanie Jordan (UK).
