SINGAPORE property group UOL will build a hotel, residences and retail units on its recently purchased Bishopsgate property in London.
UOL announced yesterday in a statement that the land will be developed into a 43-storey tower with 52,255m2 in space, encompassing 109 residential units for sale, retail sections and a 190-key Pan Pacific brand hotel.
The prime piece of real estate, Heron Plaza, was bought for 97 million pounds (US$161.9 million) through its two newly UK-incorporated, wholly owned subsidiaries, Success Venture Development (Jersey) and Success Venture Investments (Jersey).
Bishopsgate is London’s central financial district, located close to the existing Liverpool Street Station and future Crossrail station that is part of the East-West railway linking the entire Greater London.
UOL, together with its wholly-owned hotel subsidiary Pan Pacific Hotels Group (PPHG), owns the Pan Pacific and Parkroyal brands.