Letter to the Clerk of the Committee from
the Head of the Parliamentary Relations and Devolution Team, FCO,
dated 15 May 2006
ESTATE SALES
In his letter of 3 April to the Chairman of
the Foreign Affairs Committee about the Bangkok compound redevelopment,
the then Foreign Secretary, Jack Straw, undertook that we would
be in touch with you when the sale had been completed. I am pleased
to be able to inform you that the sale was completed this morning,
and attach a copy of a press release that was issued by the British
Embassy Bangkok at 1700 today (Bangkok time).
The purchasers have asked us not to publicise
the sale price. I can, however, confirm for the Committee that
the purchase price was 3,401,000,000 Thai baht, the equivalent
of £49.88 million at the exchange rate achieved.
Chris Stanton
Parliamentary Relations and Devolution Team
PRESS STATEMENT
BANGKOK: SALE OF PART OF BRITISH EMBASSY
COMPOUND, 15 MAY 2006
The British Government today completed the sale
of part of the British Embassy compound in Bangkok. Tiang Chirathivat
Real Estate Company Limited, part of Central Group, a Thai retail
conglomerate which owns a neighbouring flagship retail property,
purchased the 3.55 acres of land.This is the largest ever property
sale by the Foreign Office. The historic Residence, the Embassy
and the "green character" of the compound will however
be preserved. About £11 million of the proceeds will fund
redevelopment of the remainder of the compound, including new
staff accommodation, recreational facilities, remodelling of the
Embassy offices and security works. The balance will pay for vital
investment elsewhere on the FCO's worldwide estate.
NOTES FOR
EDITORS
1. The 12.75-acre compound was larger than
needed. The site was purchased outright by the British Government
in 1922. Originally located on the outskirts of the city, it is
now part of the Central Business District. The land sold was the
most polluted and the noisiest part of the compound; next to a
six lane arterial road (Ploenchit) and the skytrain elevated railway.
2. The War Memorial and statue of Queen
Victoria will be moved to appropriate sites near the Residence.
|
