Affluent Partners completed first tranche of investment of approx. HKD 17.51 million in Sotheby''s International Realty franchise in England

ID: 1528395
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(businesspress24) - HONG KONG, CHINA -- (Marketwired) -- 11/13/17 -- Affluent Partners Holdings Limited ("the Company" or "Affluent Partners", together with its subsidiaries, the "Group") (HKSE: 1466) is pleased to announce that the Company''s wholly-owned subsidiary, has entered into the Investment Agreement with Wonderland (UK) Holdings Limited ("Wonderland"), which operates exclusively, the Sotheby''s International Realty franchise in England through its subsidiary Sotheby''s International Realty Limited (SIRL), to subscribe for the loan notes of GBP 3.5 million (approximately HKD 36.05 million) with 6% interest per annum and a tenure of 3 years. The completion of the first tranche of GBP1.7 million (approximately HK$17.51 million), took place on 10 November 2017.

Wonderland is the exclusive licensee for the Sotheby''s International Realty brand in England. SIRL is principally engaged in the operation of realty agency business in England which primarily deals in residential sales, lettings, development sales, investment and international sales. Its network currently has approximately 20,000 sales associates, located in approximately 870 offices across 70 countries. SIRL plans to expand the number of offices under operation across London over the course of the next three years to increase brand presence and to capture additional revenue in multiple areas in the city of London.

, said, "The Subscription represents a good opportunity for the Group to establish a presence in the England realty market and to be well positioned to take advantage of improvement in market conditions and potential future growth in the sector, particularly in the city of London which has attracted consistent levels of foreign investment into the local real estate market due to the weakened GBP. It is a rare opportunity to be able to be involved with a prestigious brand such as Sotheby''s International Realty, particularly in a key global real estate market such as England. We believe this allows the Group to diversify its income base and to maximise the Shareholders'' return."

Prior to joining Affluent Partners, Mr. Chao has been involved in the real estate industry since 2009, he has experience in both Hong Kong and United Kingdom real estate markets where he has facilitated local and overseas property investments. Mr. Chao is currently mainly engaged in real estate related investment activities for the group.

The Group is principally engaged in purchasing, processing, designing, production and wholesale distribution of pearls and jewellery products. In April 2017, the Company established and commenced operation of a new business segment, namely, the strategic investment and financial services segment. This segment will be responsible for investing in stock, bonds and other form of securities, including long-term and short-term investments in listed securities in Hong Kong and other recognised securities markets overseas, as well as other potential investment opportunities.

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Date: 11/13/2017 - 06:52
Language: English
News-ID 1528395
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Firma: Affluent Partners Holdings Limited
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