Biggest ever sale of Foreign Office property
In the biggest ever sale of Foreign Office property, UK has sold its historic Bangkok embassy for £420m. The Foreign Office also announced that the money raised will be used to renovate other embassies around the world.
While announcing the deal to sell the colonial-era embassy building to a joint-venture consortium of Hongkong Land and Central Group today, Foreign Secretary Boris Johnson said: ‘Britain is a leading player on the global stage and I’m determined to ensure that our diplomats have all the necessary tools to do their job effectively.
‘This includes working in modern, safe, fit for purpose premises not just in Bangkok but around the world.’’
Meanwhile, British diplomats in Bangkok will move to a modern tower block in 2019, that has been leased for the next 15 years.
Simon McDonald, the permanent under-secretary at the Foreign Office, said: “In a tight fiscal environment, it is right that we take tough decisions to ensure that the UK can maintain a global presence while getting the best value for taxpayers.