Hong Kong property conglomerate Nan Fung Group has acquired a majority stake in London-based property developer Endurance Land.
Jonathan Fletcher, who founded Endurance Land in 2006, will continue to lead the company as chief executive.
Both Nan Fung and Endurance Land will commit capital to support new joint business ventures. Endurance Land will also continue working with other institutional partners and investors.
Nan Fung’s existing UK assets will be managed by Endurance Land and its UK team will join Endurance Land with immediate effect.
With a primarily London focus, Endurance Land will consider asset management and development opportunities close to major transport hubs.
Fletcher said: “Having a shareholder of such strength as Nan Fung Group will be a major benefit to the continued growth and success of Endurance Land.
“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.
“We look forward to continuing to build our successful platform with their collaboration and guidance,” he added.
Nan Fung has been active in the UK property market for several years. Last year the Hong Kong property company bought Regent Quarter, N1, for around £300m, from Abu Dhabi Investment Authority.
In 2016 it bought office block 138 Cheapside, EC3, from Hermes and CPPIB for £83.5m and in 2015 it purchased 16 Old Bailey, a 95,000 sq ft City of London property, for around £75m from an Isle of Man unit trust controlled by First Names Group.
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