BANGKOK — A top residential property developer won the rights to the grounds of the former Australian Embassy on busy Sathorn Road for 4.6 billion baht on Monday.
Supalai PLC came out on top of an auction for the property which sits on over 7 rai (1.2 hectares) of land. Supalai said on Monday it will renovate the 38-year-old building, which features yellow ceramic tile and a water-filled garden, into an eco-friendly, mixed-use complex of condominiums and offices worth 17 billion baht.
President Prateep Tangmatitham said construction of the complex will start next year, with sales opening by the end of 2018.
The Australian Embassy in Bangkok was established in 1975 and its building was designed by deceased Australian architect Ken Woolley. Its construction was completed in 1979. After more than 40 years, the embassy relocated in July to the Wireless Road, just across from Lumphini Park.