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Private investment from China will restore heritage architecture in London
United Kingdom Architecture News - May 22, 2015 - 16:20 4009 views
No. 10 Trinity Square, London; image via Leading Properties
Beijing-based Reignwood Group chair Chanchai Ruayrungruan, a Chinese-Thai businessman, spent just five minutes deciding whether to buy an old building on the banks of the River Thames in London in 2010. Renovation of the heritage architecture at No. 10 Trinity Square has been taking place ever since, reports Beijing's Economic Observer.
Reignwood Group bought the building, built in 1922, from bankrupt Thomas Enterprises for £106 million (US$167 million). "Its location, close to the city of London, was the first reason behind the decision to buy. The second was its historical and cultural value," Reignwood Group executive board member Ni Songhua told the Economic Observer. mThe original No. 10 Trinity Square was a warehouse owned and used by the East India Company to store spices, tea, silk fabrics and china from Asia in the 18th and 19th centuries. In 1912, however, the London Port Bureau decided to build a commercial building in its place to promote Britain's leading role in global trade.......Continue Reading
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