FEC grows UK operation to become one of the country’s largest developers
Far East Consortium Ltd (FEC) has grown its UK operation to become one of the country’s largest developers with a portfolio of residential developments and hotels with a GDV circa GBP1.1 billion. The company’s global portfolio is worth a GDV of GBP4.8 billion.
The family run development company, which originates in Hong Kong (listed on the HKSE:35) and has an office in Australia; opened its UK operation in 2011 with a view to investing in development projects across the UK.
John Connolly, Head of UK Development for FEC, says: “Since the opening of our UK operation in 2011, Far East Consortium’s development portfolio has grown considerably in a short space of time. Most development companies which are new to the UK, initially take on small schemes of 100-150 units, building up to larger projects. However, we are very excited to be developing large-scale regeneration, restoration and development projects across the UK, which will deliver thousands of new homes in the coming years.”
With a head office in Mayfair, London and a regional office in Manchester, FEC is set to develop circa 11,500 homes, and 400 new hotel bedrooms in the next decade, with more exciting plans to come.
Following its initial purchase of the Shepherds Bush Pavilion, a former cinema and recreation hall (now the Dorsett Shepherds Bush Hotel), the company has been investing in a range of exciting development opportunities, with a focus on creating new destinations and communities across the UK.
Up-coming schemes include:
Angel Meadow a GBP200 million development in Manchester which is set to launch in October 2017. The 756 unit scheme forms part of the city centre’s NOMA neighbourhood, which is set to extend the city centre northwards with a mixture of commercial and residential space.
This exciting new development will incorporate a combination of apartments and townhouses across four plots, centred around the historic Angel Meadow Park. The scheme will comprise a 41 storey landmark residential tower with retail and leisure space on the ground floor, two apartment buildings which rise to 22 and 17 storeys respectively and five, three bedroom townhouses with 131 apartments above. Construction is set to commence in 2018.
Hornsey Town Hall, the restoration of the Grade II* Listed former council offices in Crouch End. When complete, Hornsey Town Hall will feature an arts centre with flexible community and events spaces, 67 room hotel, 146 residential units, restaurants and cafes and improvements to the public realm. Steeped in history, the Hall was designed in the modernist style by award-winning architect Reginald Uren and completed in 1935. The building was the home of Hornsey Borough Council until 1966, when many administrative functions were moved to Wood Green following the creation of Haringey Council. The Town Hall continued to be used as Haringey council offices for a number of years before falling into disrepair. During the past two years, parts of the building have been re-opened by the council for use as a community arts centre. Subject to planning consent, the development launch is set to take place in early 2018, with completion in 2020.
Alpha Square, three landmark towers rising from 20 to 36 and 65 storeys, with the provision of affordable housing. Situated in Canary Wharf, Alpha Square has been designed by Pilbrow and Partners and comprises 634 studio, one, two and three bedroom apartments, a 20 floor, 231 room Dorsett hotel with spa, a state of the art primary school which will accommodate over 400 children, a health centre and the renovation of the North Pole pub along with various food and beverage outlets. Set amongst inviting communal spaces, complete with sky gardens and improved public realm, construction is set to commence in 2018 with completion in 2022
Far East Consortium will also play a pivotal role in the regeneration of Manchester’s Northern Gateway. Incorporating over 10,000 new homes in the next decade, the mixed-use scheme will see an emphasis on design quality and sustainability, open space, green walking trails and cycling routes. It will allow the city centre to expand and provide the optimal mix of high quality housing in well-planned new areas. The over-arching vision of this project is essentially to create a series of distinct yet clearly connected communities that make the most of the area’s natural resources, including the River Irk and its prime location close to the city centre.
The selection of Far East Consortium for this significant regeneration scheme is expected to generate more than GBP1bn of investment over the next decade and will unlock the residential development potential of more than 350 acres of land (equivalent to 13 million sq. ft.), sweeping north from Victoria Station and taking in the neighbourhoods of New Cross, the Lower Irk Valley and Collyhurst.
The company’s hotel brand, Dorsett, launched the new Dorsett City 267 room Hotel in July 2017 and planning of the former Walkabout pub, a unique scheme of 74 serviced apartments, designed by award winning architects, Flanagan Lawrence was achieved in March 2017. The original façade and historic details will be blended with new brick work to create a striking new art deco inspired building, which will comprise a range of studio, one bedroom apartments, and duplex penthouses. Ranging from 246 sq. ft. ft. to 408 sq. ft., all apartments will be serviced by the neighbouring Dorsett Shepherds Bush Hotel. Construction will begin in January 2018, with completion in June 2019.
Far East Consortium has a proven track record across Asia-Pacific and is bringing its expertise to the UK to deliver innovative new development projects, which not only contribute to the UK’s housing shortage, but also provides exciting new places to live, work and play.