* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, October 21, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Placer County town of Loomis considers entertainment zone for downtown – CBS News

    Loomis Unveils Thrilling New Entertainment Zone to Revitalize Downtown

    CT Culture Corner: Robert Redford films to watch – CT Insider

    CT Culture Corner: Robert Redford films to watch – CT Insider

    Elmira’s New Entertainment Venue ‘Centertown Social’ Adding its Final Touches – WENY News

    Elmira’s New Entertainment Venue ‘Centertown Social’ Adding its Final Touches – WENY News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    How a Gemma model helped discover a new potential cancer therapy pathway – blog.google

    How a Gemma Model Revealed a Breakthrough Pathway for Cancer Treatment

    Italian Technology in Manufacturing: Supporting North American Industries and Keeping Production Local – Thomasnet

    How Italian Technology is Revolutionizing North American Manufacturing and Boosting Local Production

    Guide to Proteomics Project Planning: Sample Preparation Strategies – Technology Networks

    Guide to Proteomics Project Planning: Sample Preparation Strategies – Technology Networks

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Placer County town of Loomis considers entertainment zone for downtown – CBS News

    Loomis Unveils Thrilling New Entertainment Zone to Revitalize Downtown

    CT Culture Corner: Robert Redford films to watch – CT Insider

    CT Culture Corner: Robert Redford films to watch – CT Insider

    Elmira’s New Entertainment Venue ‘Centertown Social’ Adding its Final Touches – WENY News

    Elmira’s New Entertainment Venue ‘Centertown Social’ Adding its Final Touches – WENY News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    How a Gemma model helped discover a new potential cancer therapy pathway – blog.google

    How a Gemma Model Revealed a Breakthrough Pathway for Cancer Treatment

    Italian Technology in Manufacturing: Supporting North American Industries and Keeping Production Local – Thomasnet

    How Italian Technology is Revolutionizing North American Manufacturing and Boosting Local Production

    Guide to Proteomics Project Planning: Sample Preparation Strategies – Technology Networks

    Guide to Proteomics Project Planning: Sample Preparation Strategies – Technology Networks

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Receivers Marketing London Office Tower Seized From Mainland Tycoon

October 17, 2023
in Technology
Receivers Marketing London Office Tower Seized From Mainland Tycoon
Share on FacebookShare on Twitter

5 Churchill Place

5 Churchill Place is on the market again after earlier sales attempts faltered (Image: Knight Frank)

Savills has kicked off a sales campaign for 5 Churchill Place in London, attempting to find a buyer for the Canary Wharf office tower seized from mainland tycoon Chen Hongtian, who had earlier defaulted on loans backed by the onetime headquarters of now-defunct investment bank Bear Stearns.

The property consultancy is marketing the 12-storey office block on behalf of receivers from FTI Consulting, which had taken over the property from Chen, who chairs Shenzhen-based investment firm Cheung Kei Group, touting a pair of new tenants which moved into the property in July and the building’s virtual freehold title.

The 313,000 square foot (29,000 square metre) asset is being relaunched for sale as trades of office assets dropped by 64 percent in the third quarter, compared to a year ago, according to JLL, with Chen having laboured for more than a year to sell the building himself before the receivers seized it in May of this year.

Chen had originally acquired the 2009-vintage asset in 2017 for £270 million (then $363 million), in a buying spree that saw him pay record prices for homes and offices in Hong Kong and London, with five of those properties having been seized by creditors this year following loan defaults.

London Failing

With the building located on the eastern side of Canary Wharf, at the gateway to Wood Wharf, Savills is highlighting the 985 years remaining on 5 Churchill Place’s land lease, connectivity to the Elizabeth Line transit system and air rights in attempting to find a buyer for the property.

Chen Hongtian of Cheung Kei

Cheung Kei chairman Chen Hongtian is watching another former trophy go up for sale

Credit Agricole and the World Association of Nuclear Operators both agreed to new leases in the building in July with the weighted average unexpired lease term to lease expiry in the property now at 10.5 years.

No price details for the property were provided in a sales flyer distributed by Savills, although sources familiar with the property told Mingtiandi earlier this year that Chen and Cheung Kei had been attempting to sell the building last year for £260 million. The company was said at the time to have received bids for both 5 Churchill Place and 20 Canada Square, another Canary Wharf tower the Chinese investor had purchased in 2017, however, none of those offers were accepted by Chen or Cheung Kei.

Some £1.2 billion in office properties found buyers in central London during the third quarter, according to a report by JLL earlier this month, with that amount down 64 percent from the same period a year earlier.

“The twin impacts of rapidly rising interest rates, coupled with structural challenges regarding the nature of office working have combined to deliver uncertainty to the marketplace,” said Julian Sandbach, head of central London capital markets at JLL, while expressing optimism that the majority of value reduction has already taken place.

Chen and Cheung Kei had purchased 5 Churchill Place with the help of a £175 million loan from Lloyd’s Bank as well as mezzanine debt extended by an undisclosed international conglomerate. Lloyd’s is understood to no longer hold the majority of that initial loan, which as of March this year was delinquent.

In late August receivers sold an apartment in Hong Kong’s Mid-Levels formerly owned by Chen for HK$420 million ($53.5 million), after the billionaire had defaulted on an HK$500 million mortgage on the property. That sale represented a 38 percent discount to the apartment’s market value.

Defaults and Seizures

The marketing effort for 5 Churchill Place makes it the fourth of Chen’s property trophies to have been put up for sale by receivers this year.

In addition to the Mid-Levels apartment, which had been put on the market in May, during that same month receivers began marketing One HarbourGate East Tower in Kowloon’s Hung Hom area after taking over the building formerly known as the Cheung Kei Center in March.

In August, receivers put up for sale a HK$2.1 billion mansion at 15 Gough Hill Road on Hong Kong’s Peak, which had been owned by Chen until being seized by creditors in March. All four of those properties have been marketed by Savills.

During June creditors also took over 20 Canada Square, which Chen had paid £385 million for six years ago, after the garment king last October had defaulted on a £265.5 million loan originally from Lloyd’s Bank which it had used to finance purchase of the London property.

Now considered a B grade office asset, 20 Canada Square is said to have been on the market for nearly two years before Cheung Kei defaulted, with that property having yet to be put up for sale by receivers.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/outbound-investment/receivers-marketing-london-office-seized-from-chen-hongtian/

Tags: MarketingReceiverstechnology
Previous Post

Singapore Home Sales Lowest in Nine Months as Developer Inventories Swell

Next Post

Harry Houdini’s unlikely last act? Taking on the occult

The lover’s guide to the 2025 World Series – The New York Times

Your Ultimate Lover’s Guide to the 2025 World Series

October 21, 2025
Rethinking Growth In A Broadening Economy – Seeking Alpha

Unlocking Success: New Insights for Thriving in a Booming Economy

October 21, 2025
Hetzel Design: blending architecture and entertainment – Blooloop

Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

October 21, 2025
Study suggests earlier start of hormone therapy optimizes long-term health outcomes – News-Medical

Starting Hormone Therapy Sooner May Boost Long-Term Health Benefits

October 21, 2025
Some States With Democratic Governors Are Posting Partisan Shutdown Messages on Official Websites – The New York Times

Some States with Democratic Governors Feature Partisan Shutdown Messages on Official Websites

October 21, 2025
Revisiting Pope Francis’ Call for ‘Ecological Conversion’ – Sojourners

Pope Francis’ Powerful Appeal for a Global Ecological Awakening

October 21, 2025
PJSB donates $50,000 for UACCM Nursing and Science Center – KVOM

PJSB donates $50,000 for UACCM Nursing and Science Center – KVOM

October 21, 2025
An update from Riane Eisler, author of “The Chalice and the Blade,” on achieving peace. – Psychology Today

An update from Riane Eisler, author of “The Chalice and the Blade,” on achieving peace. – Psychology Today

October 21, 2025
We live in a sailboat and travel the world full-time… but our lifestyle isn’t as glamorous as you’d think – Daily Mail

Living Full-Time on a Sailboat and Traveling the World: The Reality Behind the Glamour

October 21, 2025
3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

October 21, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (878)
  • Economy (900)
  • Entertainment (21,771)
  • General (17,718)
  • Health (9,941)
  • Lifestyle (912)
  • News (22,149)
  • People (900)
  • Politics (910)
  • Science (16,110)
  • Sports (21,399)
  • Technology (15,879)
  • World (883)

Recent News

The lover’s guide to the 2025 World Series – The New York Times

Your Ultimate Lover’s Guide to the 2025 World Series

October 21, 2025
Rethinking Growth In A Broadening Economy – Seeking Alpha

Unlocking Success: New Insights for Thriving in a Booming Economy

October 21, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version