Hotel Prop in JV to buy former Royal Mail centre in London

Singapore

HOTEL Properties on Wednesday said it has formed a 70:30 joint venture (JV) to buy the former Royal Mail Delivery Offices in central London for £111 million (S$225 million).

The JV is with Anchorage View, a company owned by Ong Beng Seng, the managing director and deemed controlling shareholder of Hotel Properties, and David Fu Kuo Chen, a non-executive director and deemed substantial shareholder of Hotel Properties.