Wed, 07 Dec 2016 | COMMERCIAL PROPERTY
A village pub visited by then Prime Minister David Cameron and China President Xi Jinping has been snapped up by a Chinese firm for a reported £2 million.
SinoFortone Investment has bought the Plough at Cadsden, near Princes Risborough in Buckinghamshire.
The Plough hit the headlines in October 2015 when Mr Cameron and Mr Jinping popped in for a pint of beer and some fish and chips during a Chinese state visit.
The acquisition is the latest in a number of China-UK deals, including the £1.4 billion purchase of UK travel website Skyscanner by Ctrip.com.
The Plough is the nearest pub to Chequers, the Prime Minister’s country residence, and became popular with Chinese tourists following President Xi’s trip.
Peter Zhang, managing director of SinoFortone Investment, said: “We are so excited about this new strategic partnership and adventure, the English pub concept is growing very fast in China, and it's the best way culturally to link people from different countries and build friendships.”
The pub was sold through Christie and Co, who said Asian investors will continue to pursue deals in the UK market. The firm’s Neil Morgan said: “The Chinese market has huge potential and many opportunities, so it is one that we will see more activity in over the coming months and years.
“Asian investors are becoming more interested in UK markets, particularly hotels, licensed and leisure and we are seeing more and more Chinese investors in particular coming to us showing an interest both in British hospitality and leisure opportunities, and also in taking classic British themes to China.”
For in-depth analysis of China's growing investment in the UK, read our latest Subscriber-only report, Chinese firms winning out by buying UK businesses.
Supplies high-quality boxes, utilising the latest technology to produce superior products. Embraces works of all sizes and complexities, undertaking a multitude of projects. Highly skilled management team, with some employees having worked in the ind...
FREEHOLD
Provides creative and commercially focused environmental design, planning and development solutions for clients operating across a diverse range of sectors. Adds value to its clients’ projects and delivers bespoke solutions in line with their require...
LEASEHOLD
Manages commercial and industrial projects of all sizes, specialising in roads, sewers and groundworks in the social and speculative housing markets. Operates on a regional basis, predominantly working with organisations based across the West Midland...
FREEHOLD
|
27
|
|
Nov
|
AIT Worldwide Logistics acquires UK home delivery specialist | BUSINESS SALE
AIT Worldwide Logistics has acquired home delivery company P...
|
26
|
|
Nov
|
Magazine publisher Future agrees £594m GoCompare deal | BUSINESS SALE
Magazine publisher Future has agreed a £594 million ca...
|
26
|
|
Nov
|
BSR launches the UK Company Lens | BUSINESS NEWS
For the past four months, the team here at Business Sale Rep...
Sign up to receive our acquisition alert emails to get your FREE guide
|
20
|
|
Mar
|
Hotel in Scottish Highlands for sale at knockdown price | COMMERCIAL PROPERTY
The Conon Bridge Hotel, located just south of Dingwall at th...
|
12
|
|
Feb
|
Victorian hotel set in Devon estate up for sale | COMMERCIAL PROPERTY
The Highbullen Hotel Golf and Country Club, which is set on ...
|
07
|
|
Feb
|
Sunderland restaurant up for sale | BUSINESS SALE
The owners of Sunderland-based restaurant D’Acqua have...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources