Sign up for free newsletter

 

Affluent Partners completes first HKD17.51m tranche of investment in Sotheby’s International Realty franchise


A wholly-owned subsidiary of Affluent Partners Holdings Limited has completed the first HKD17.51m (GBP1.7m) tranche of a planned HKD36.05 million (GBP3.5 million) investment in Wonderland (UK) Holdings Limited (Wonderland), which exclusively operates the Sotheby's International Realty franchise in England through its subsidiary Sotheby's International Realty Limited (SIRL).

Wonderland is the exclusive licensee for the Sotheby's International Realty brand in England. SIRL is principally engaged in the operation of realty agency business in England which primarily deals in residential sales, lettings, development sales, investment and international sales. Its network currently has approximately 20,000 sales associates, located in approximately 870 offices across 70 countries. SIRL plans to expand the number of offices under operation across London over the course of the next three years to increase brand presence and to capture additional revenue in multiple areas in the city of London. 
 
Percy Henry Archambaud-Chao Jr, Executive Director of the Group, says: "The Subscription represents a good opportunity for the Group to establish a presence in the English real estate market and to be well positioned to take advantage of improvement in market conditions and potential future growth in the sector, particularly in the city of London, which has attracted consistent levels of foreign investment into the local real estate market due to the weakened GBP. It is a rare opportunity to be able to be involved with a prestigious brand such as Sotheby's International Realty, particularly in a key global real estate market such as England. We believe this allows the Group to diversify its income base and to maximise the Shareholders' return." 
 
Prior to joining Affluent Partners, Chao has been involved in the real estate industry since 2009, he has experience in both Hong Kong and United Kingdom real estate markets where he has facilitated local and overseas property investments. Chao is currently mainly engaged in real estate related investment activities for the group. 

specialreports
other gfm publications