EMPEROR INT'L (00163) plans to sell the UK's Ampersand Building for GBP159.2 million

EMPEROR INT'L (00163) announces that after the trading session on 13 November 2026, the company's indirectly wholly-owned subsidiary, Grand Mark Group Limited, intends to sell to Northstar Ampersand Propco Limited the entire equity interests in and shareholder loan repayments of Emperor Ampersand General Partner S. r.l. and Emperor Ampersand S. r.l., for a total consideration of approximately GBP159.2 million. As at the date of this announcement, the target group has no other business operations apart from holding the property. The property is an 8-storey (including basement) freehold mixed-use building comprising retail shops, office premises and rental apartments, known as Ampersand Building, located at 178 Wardour Street, London, United Kingdom (W1F 8FY), with a net internal floor area of approximately 90,799 sq ft according to the latest measured survey dated 1 October 2025. As at 31 July 2026, the carrying value of the property was GBP156.5 million. The announcement states that the group's investments are currently relatively concentrated in Greater China (covering Hong Kong, Macau and mainland China), and it intends to focus its resources and management's efforts on properties with long-term growth potential. Having regularly reviewed the business operations of its investment portfolio and taking into account recent market conditions in the UK property market, the board believes that the disposal is a good opportunity for the group to realise its investment in the property, allowing the group to concentrate its resources on core markets in Greater China. The net proceeds from the disposal will further enhance the group's financial position. Upon completion, the costs associated with managing the property in the UK are expected to be reduced, thereby further streamlining the group's cost structure. This will also better align its property portfolio with its strategic focus on Greater China.