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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Great Portland sells central London property to Norwegian sovereign wealth fund

Posted on 17 November 2016

Great Portland Estates has completed the sale of 73/89 Oxford Street and 1 Dean Street in London to Norwegian sovereign wealth fund Norges Bank Real Estate Management for £276.5m.
The price reflects a net initial yield to the buyer of 3.2%. The scheme is pre-let to New Look Retailers, Benetton and Moneysupermarket.com with a weighted average unexpired lease term of 17 years. The rent on completion will be £9.74m a year…………………………………….Full Article: Source


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