Dotted with classy hotels, such as Mövenpick’s Sukhumvit 15, a hotel near terminal 21, one would think that the most expensive real estate deals in Thailand involve hotels or, at the very least, hotel companies. Most of them are, save for the most expensive one in the country’s history.
The real estate deal for the land of the British Embassy in Bangkok, located in 14 Wireless Road, was sold in two deals, both of which total out for a whopping Bt 20 B, or £458 M, all of which will go to the government of the United Kingdom. The first part of the land, accounting for 9.5 rai/3.8 acres, was purchased about a decade ago for £50 M. Both purchases were made by the family-owned Central Group, Thailand’s largest conglomerate of its kind.
The Central Group turned the initial plot they purchased a decade ago into the Central Embassy, a luxury shopping centre. With the purchase of the remaining land area completed, the company is now free to develop the plot. Any further construction to the area is likely to be connected to the Central Embassy mall, which would turn the location into a prime, multi-use piece of real estate.
This purchase will mean that the currently standing British embassy, which holds a historical icon in the Queen Victoria statue which stood strong even amidst the Japanese occupation around early 1940s, will have to be either demolished, or removed and placed onto another location.
There have been little issues with the privatization of the land on the part of the Brits. There’s been little outcry about it, and the embassy has prepared itself for the sale, with most of their services for the public having been moved to other locations. For quite some time now, Brits hoping to apply for their passports and Thais seeking a VISA for the UK have been going to the Sukhumvit 11 facility, located at the Trendy House.
The British embassy has not made announcements regarding its plans for its facilities, but there has been word that it will follow the trend in Bangkok, wherein embassies are located in high-rise buildings.
If you thought that hotel near terminal 21 was worth quite a bit of money to purchase, the embassy will shock you. On that note, it’s worth visiting the site now before it all goes.