Forsters advises Hong Kong investor on £470m investment in Greenwich Peninsula
Forsters' market leading property and corporate real estate teams represented Knight Dragon Limited, a company ultimately owned by Dr. Henry Cheng, one of Hong Kong’s leading businessmen, on the acquisition of a 60% stake in the prestigious Greenwich Peninsula development project.
The deal, worth in excess of £470m, will result in Knight Dragon owning 60% of Greenwich Peninsula Regeneration Limited (GPRL), alongside joint venture partner Quintain Estates and Development PLC.
The Forsters teams were led by Penny Elliott, Richard Margree, Craigie Pearson and Craig Thompson. Penny and Craigie have acted for the Cheng family for more than a decade and represented the family on its development at 199 Knightsbridge and investment in Pinnacle Regeneration Group. Craig Thompson joined Forsters as a partner in October 2011.
Guy Jordan, Forsters’ Senior Partner, said:
"We are delighted to have advised our longstanding client on this complex and prestigious project and to have achieved such a successful outcome. We look forward to continuing to work with the client as the joint venture proceeds."
Sammy Lee, a Director of Pinnacle Regeneration Group, who will become a member of the GPRL board on completion, said:
“We are seeing London’s centre of gravity shifting eastwards and this development gives us the opportunity to help transform 1.4 miles of Thames river frontage in one of London’s most interesting and historic areas. We are very grateful for the advice and expertise that Forsters have provided to us throughout this complex process.”