British Embassy quietly trying to sell their downtown home for THB18 billion

By Coconuts Bangkok

 

The British Embassy from above. Photo: Aey SrirathSomsawat/Facebook

 

Most expats are familiar with the British Embassy on Wireless Road in Ploenchit. The gracious old buildings have been the setting for many a British garden party and get-together over the years.

 

Now, the Brits seem to be quietly trying to sell the 23-rai (9-acre) parcel of land to developers for more than THB18 billion through Thai property agent CBRE, reported Bangkok Post.

 

It’s a great downtown location and the price isn’t that surprising since a parcel nearby recently sold for THB1.91 million per square wah (43 square feet) by SC Asset Corporation Plc.

 

Full Story: http://bangkok.coconuts.co/2016/08/30/british-embassy-quietly-trying-sell-their-downtown-home-thb18-billion

 

-- © Copyright Coconuts Bangkok 2016-08-30

I put it down to Brexit...the Brits seem to be feeling under the sofa cushions for any loose change it seems.

 

It's really a shame as like the article says, this site (before the Central Embassy carbuncle) was a gracious bit of old British Raj in Bangkok. I'm just glad that when I lived in Bangkok for a few years at the turn of the Millennium, I was able to attend a few Ploenchit Fairs, ambassordor's open houses and teas, and Armistice Day rememberances, with Ole Queen Vic, at the embassy.

Downsizing? or Rightsizing? 

 

Thailand seems to be getting unfashionable these days.

 

Chook

Definitely a shame to lose 9 acres of green in the middle of BKK.

 

It's is not like the city needs yet another [deleted] giant building to buy crap nobody really needs.

 

Trees and green space, on the other hand, will sadly never come back.

They might as well sell up and move to a cubby hole on the outskirts of town for all the use they are...

7 minutes ago, Chookie said:

Downsizing? or Rightsizing? 

 

Thailand seems to be getting unfashionable these days.

 

Chook

 

I think you are spot on. Cashing in while they can.

And what'll be in place of this ivory tower? Oh goody, another hi-end shitey shopping centre!!

I'm puzzled by this sale.

 

Does it mean the British Embassy is the owner of that land?

When land is given to a foreign country to establish its embassy, it is land that effectively becomes full property of a foreign government and it can then be sold?

what is the process of getting new land for a new embassy?

I think I'll buy the land. It's perfect for a small bungalow for occasional use.

No one has mentioned it, so once again I am doubting my sanity, but didn't this topic first hit the news several weeks ago?  Not that I am blaming tv of course, but there seems  to be a certain regurgitation on 'news' sites lately?

1 minute ago, Slip said:

No one has mentioned it, so once again I am doubting my sanity, but didn't this topic first hit the news several weeks ago?  Not that I am blaming tv of course, but there seems  to be a certain regurgitation on 'news' sites lately?

 

maybe coconuts is using one of these news re-posting modules of wordpress...

I saved 18 billion by not buying this land.

I wonder when they will be selling the Falklands...

17 minutes ago, trogers said:

I wonder when they will be selling the Falklands...

 

 

LOL. Negotiations ongoing.

 

Chook

1 hour ago, baboon said:

They might as well sell up and move to a cubby hole on the outskirts of town for all the use they are...

 

 

They might as well sell up and move to a cubby hole on the outskirts of town for all the use they are..

 

If doing thus quietly they have failed at the first hurdle

2 hours ago, HOAX said:

I think I'll buy the land. It's perfect for a small bungalow for occasional use.

for my maid

When I first came to Thailand in the early 70s..

Newly married Thai couples would visit the Embassy gardens, to make an offering to the statue of Queen Victoria.

It was widely believed that the good Queen who bore 9 children , would bestow fertility on their marriage.

It’s a great downtown location and the price isn’t that surprising since a parcel nearby recently sold for THB1.91 million per square wah (43 square feet) by SC Asset Corporation Plc.

"Hope the anti money laundering committee doesn't read coconuts" says Yingluck with her fingers crossed.

Actually the sale is down to the UK government and its Foreign and Commonwealth department. I would hope that there is some future plan to use another site and carry on with doing what little they do for the average Brit such as letters etc.

so the british embassador is also planning on leaving the country

Brit Govt needs the money to pay for all the freeloaders, reffos, EU bank bailouts and fat cat gold plated civil service pensions.. Our history and nation being destroyed from within by the greedy and the feckless.

7 hours ago, manarak said:

I'm puzzled by this sale.

 

Does it mean the British Embassy is the owner of that land?

When land is given to a foreign country to establish its embassy, it is land that effectively becomes full property of a foreign government and it can then be sold?

 

Yes.

If they're giving away a free Samsung Galaxy S7 Edge as a sweetener I might be interested.

12 hours ago, OMGImInPattaya said:

I put it down to Brexit...the Brits seem to be feeling under the sofa cushions for any loose change it seems.

 

It's really a shame as like the article says, this site (before the Central Embassy carbuncle) was a gracious bit of old British Raj in Bangkok. I'm just glad that when I lived in Bangkok for a few years at the turn of the Millennium, I was able to attend a few Ploenchit Fairs, ambassordor's open houses and teas, and Armistice Day rememberances, with Ole Queen Vic, at the embassy.

I would think that this was something planned long before the Referendum.

 

Is there any country in history that has been asset-stripped as the UK has been recent years!? We don't even own our own drinking water!

 

A few years ago I heard that the British Embassies in Washington & Paris were up for sale, probably still are. I suspect that this was partly due 

 

to the fact that in coming years an EU Embassy will replace EU nations' embassies (except Germany, maybe!).

 

 

12 hours ago, Chookie said:

Downsizing? or Rightsizing? 

 

Thailand seems to be getting unfashionable these days.

 

Chook

or just getting rid of non core assets to be deployed  elsewhere

a deal of this size, involving prominent owners can hardly be done quietly. they might get results through a public tender depending of course on the sensitivities of the market circumstances.

6 hours ago, Pdaz said:

Brit Govt needs the money to pay for all the freeloaders, reffos, EU bank bailouts and fat cat gold plated civil service pensions.. Our history and nation being destroyed from within by the greedy and the feckless.

No they don't . What's 400 M GBP when your printing money like the rest of the central banks.

13 hours ago, OMGImInPattaya said:

I put it down to Brexit...the Brits seem to be feeling under the sofa cushions for any loose change it seems.

 

It's really a shame as like the article says, this site (before the Central Embassy carbuncle) was a gracious bit of old British Raj in Bangkok. I'm just glad that when I lived in Bangkok for a few years at the turn of the Millennium, I was able to attend a few Ploenchit Fairs, ambassordor's open houses and teas, and Armistice Day rememberances, with Ole Queen Vic, at the embassy.

It would make sense to sell and repatriate the money while the £ is so weakened.

Opulent site and buildings, in a country run by a Hichahorhip. Not good.