Parliament Ratifies £17.25m Lease Extension for Regina House to Secure Ghana International Bank’s London Operations

Ghana’s Parliament has officially ratified a 150-year lease agreement for Regina House in London, securing the long-term future of one of the nation’s most strategic overseas assets. Valued at approximately £17.25 million, the deal extends the tenure of the property located in the heart of London’s financial district. The building serves as the headquarters for the Ghana International Bank (GHIB), facilitating critical financial transactions between Ghana and the United Kingdom. This extension follows a comprehensive report from the Parliamentary Finance Committee and ensures the property remains under Ghanaian administration well beyond the expiration of the current lease in September 2027.

Deputy Finance Minister Thomas Nyarko Ampem, who presented the agreement to the house, highlighted the economic viability of the arrangement. Regina House currently generates approximately £1.4 million in annual rental income from various tenants, a sum that is expected to support the repayment of the new lease while maintaining the bank's operational stability. The property has been a staple of Ghana’s international portfolio since 1937, and the 150-year extension is viewed as a significant step in consolidating the country’s foreign assets. The decision also addresses public concerns regarding the building’s current physical condition and its potential for more robust commercial use in the future.

Beyond immediate banking operations, the government views Regina House as a cornerstone for future redevelopment and sustained revenue generation. By securing the lease, supporters argue that Ghana protects a vital national asset from market volatility while opening avenues for modernization. The Ministry of Finance intends to leverage the rental income generated by the facility to eventually acquire additional strategic properties in the United Kingdom. This broader strategy aims to enhance Ghana’s global financial presence and improve the nation’s image abroad through high-value real estate investments in international markets.