Press enter

Cheswick Park business park attracts sovereign bids | 31 December 2012

One of London’s most expensive commercial properties is likely to be bought using money from one of three Asian sovereign wealth funds.

Marketwatch.com reports that Cheswick Park business park has attracted government-backed bids from China, Malaysia and Korea.

It is thought that the property will be sold for an estimated £800 million, making the biggest property deal in the UK since the start of the financial crisis.

In a report for ft.com, Financial Times’ property correspondent Ed Hammond suggested that sovereign interest in commercial properties could be a good thing for the British market.

He explained: “The sovereign wealth interest in the property underlines the growing role international investors are playing in London commercial real estate. Buyers from Asia, the Middle East and North America have ploughed billions of pounds into the offices, shops and hotels in the UK capital.”

The Chinese bid is the latest to have come in for the business park. The Korean and Malaysian bids reportedly involve a mixture of sovereign wealth and pension funds. It is expected for Canadian pension funds and British investors to table bids before the property is sold off.

The owners of the property, Blackstone, have refused to comment on any speculation regarding its sale.

The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.

Share this story
More News

Qube Global Software customers shortlisted at ARMA ACE Awards | 6 June 2017

We are proud to announce that a number of our customers have been shortlisted at the prestigious ARMA ACE Awards.

Just 5% of property businesses consider themselves technologically advanced | 1 February 2017

Research by Qube Global Software reveals that only a tiny proportion of the UK’s leading property and facilities management companies believe they are harnessing technology successfully.

Property software giant invests in PropTech pioneer | 11 January 2017

Qube Global Software and Engage enter joint venture in boost to Build to Rent Sector.

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close