Hong Kong property developer Nan Fung has taken a majority shareholding interest in Central London property developer and investor Endurance Land.
As part of the deal Jonathan Fletcher, who founded Endurance Land in 2006, will continue to lead the company as CEO.
'Having a shareholder of such strength as Nan Fung Group will be a major benefit to the continued growth and success of Endurance Land,' commented Fletcher. 'Nan Fung Group shares our professional and entrepreneurial outlook with a strong investment track record overseas, especially in London, and is a proven developer in Asia with a strong history and proud culture.'
Under the agreement, Nan Fung Group will commit capital and resources to support new business ventures by Endurance Land, which will continue to work with institutional partners and investors as development and asset managers in joint venture structures. The company will also deploy capital from its management team and Nan Fung Group.
Working primarily in London, Endurance Land will continue to build on its opportunistic strategy, considering asset management and development opportunities close to major transport hubs, creating innovative and inspiring space for people to live and work.
Nan Fung’s existing UK Assets will be managed by Endurance Land and its UK team will join Endurance Land with immediate effect.