Fund acquires property in London
18 September 2015
Norges Bank Investment Management has acquired a 100 percent interest in the West One Shopping Centre and 75 Davies Street, a 90,000 square foot retail and office property located above Bond Street Underground station in London.
The agreement was signed and completed 18 September 2015.
Norges Bank Investment Management paid 240 million pounds for the entities that own the 95-year long leasehold interest in the property. The asset is unencumbered by debt, and no financing was involved in the transaction.
The building comprises 45,000 square feet of office space on four upper floors and 45,000 square feet of retail space in a shopping centre fronting Oxford Street. The shopping centre also provides an entrance to Bond Street London Underground station.