Eight major Chinese investments in UK since Brexit
Updated: 2016-07-25 18:23
By Dai Tian(chinadaily.com.cn)
For those who remain vigilant about Brexit’s fallout, recent front-page stories about active Chinese buyers could maybe set a few hearts at ease.
Despite uncertainties, Chinese companies have used actions to prove their unchanged appetite for British assets, ranging from hotel properties and a cinema chain, to a game developer and football club.
A string of deals have been announced since the UK voted last month to leave the EU by a margin of 52 percent to 48 percent.
Here we spotlight eight major deals Chinese investors have reached so far in the UK since the Brexit.
8. Magnificent Real Estate acquires a London hotel
Deal size: 70.3 million pounds (620.4 million yuan)
Date announced: June 28
Hong Kong-listed Magnificent Hotel Investment has agreed to buy a six-story London hotel for 70.3 million pounds, the company announced days after the UK voted to leave the EU.
Situated at 100 King’s Cross Road, the hotel is commonly known as the “Travelodge Royal Scot Hotel” and has 408 rooms and is equipped with a restaurant, a café and parking lots.
An exterior view of the Travelodge Royal Scot Hotel at King’s Cross Road, London. [Photo provided to chinadaily.com.cn]