Guangzhou R&F sells London’s Vauxhall Square at 42 per cent discount to valuation, posting an ‘unheard of’ loss in desperate move to pare debt
- The Vauxhall Square parcel in Vauxhall has been sold for £95.7 million (US$124.8 million), at a discount of about 42 per cent to market valuation, R&F said
- R&F will incur a £68.8-million loss from its Vauxhall Square disposal, the company said.

Guangzhou R&F Properties has agreed to sell a plot of mixed-use land in London at a loss to Far East Consortium International, in a move that underscores its haste to raise cash to pare its debts.
The sale is “one of the biggest losses I have ever heard,” which is surprising because “London’s property, particular those for commercial use, are [highly] sought after by investors as there is limited supply in prime areas,” said Martin Wong, director of research and consultancy for Greater China at Knight Frank.

R&F will sell Vauxhall Square for a nominal £1, transferring £95.7 million of its intercompany debt to Far East, according to the terms of their agreement. R&F has a six-month option to repurchase the project from Far East for £106.6 million, according to the terms.
