December 01, 2016
Lee Kum Kee Acquires Property in London
Lee Kum Kee Sauce Group completed the acquisition of the office building of 3 Harbour Exchange.
In December, Lee Kum Kee Sauce Group completed the acquisition of the office building of 3 Harbour Exchange next to Canary Wharf on the bank of River Thames in the City of London. The 11-storey property covers a total floor area of 90,000 square feet, with one floor to be used as the European regional office of Lee Kum Kee Sauce Group providing for an improved work environment for the Europe team. The building occupies a prime position in the financial centre of London, which is also a transport hub in particular with the Cross Rail commencing service in 2018 connecting east London to the west on a fast track.
This property investment bears testimony of Lee Kum Kee’s confidence in, and commitment to the Europe markets. Business development in Europe in recent years has been remarkable. Apart from healthy growth in the traditional Chinese and Asian channels, Lee Kum Kee has also penetrated into the top six mainstream retail supermarket chains in the UK. Products are now branching out to Chinese and mainstream consumers in other countries on the continent, including the Netherlands, Germany, France, Luxemburg, Scandinavia and Central Europe with promise of steady growth in the region. The acquisition of this proper ty not only serves to lay a solid foundation to cater for quantum business growth in the European markets but is also a long-term investment and a public demonstration of Lee Kum Kee’s significant presence in the region.
3 Harbour Exchange