British Embassy sold for £420m

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Cash-strapped Foreign Office sells Bangkok embassy for £420m

Foreign Office says sale designed to fund modernisation of other embassies around world

 

The scale of financial pressure on the British diplomatic service has been underlined by a Foreign Office announcement that it has raised £420m by selling its embassy in Bangkok to fund modernisation projects across its global estate.

The sale represents the largest land deal in Thai history and the Foreign Office’s biggest ever sale. The department said the proceeds, equivalent to a third of its core annual budget of £1.2bn, would pay for 30-40 modernisation projects around the world, including renewing the wiring in its Paris embassy and refreshing the decor at the Washington embassy.

 

for full article read:

https://www.theguardian.com/uk-news/2018/jan/31/cash-strapped-foreign-office-puts-bangkok-embassy-up-for-sale

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