Land Securities is to sell Park House to a Qatari-backed firm for £250 million, according to reports.
The UK's biggest
property investment firm is to sell one of its major
commercial development assets for £250 million.
Park House, which is located in London's, is to be sold to a Qatari-backed investor, according to reports.
The 310,000 sq ft project is in the early stages of construction and Land Securities will finish the commercial development and deliver the finished product to the buyer - in return for a fee and possible profit share.
This is a further sign of the interest shown by foreign investors in prime UK commercial property, coming weeks after representatives of the Qatari Royal Family bough Harrods for £1.5 billion.
For foreign investors, conditions in the UK are particularly favourable due to the decline of the prevalence of cheap debt and the ability to use interest swaps, Andrew Teacher, media manager at the British Property Federation, claimed earlier on this week.
He went on to say that prime "trophy assets" are particularly prized.
Posted by Allan Flowers.
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