| Two of London’s most famous streets are now part-owned by Norway’s sovereign wealth fund after it paid £343m to snap up a share in an estate covering four acres of the capital’s West End. avile Row, the Mayfair street renowned for its men’s tailors and for hosting the Beatles’ final live performance at the former Apple offices, and the gallery-studded Cork Street are part of the Pollen Estate in which Norges Bank Investment Management (NBIM) has bought a 57.8% stake.
The fund, which is the world’s biggest sovereign wealth fund and invests government money from the oil industry, already has investments in a neighbouring Regent Street portfolio. he share in the Pollen Estate was bought from the Church Commissioners for England, which also sold a 6.4% share to the Crown Estate, raising a total of £381m, making it the largest ever property sale by the group...............................................Full Article: Source
|