A major office building in south London has been sold to Dubai-based investors for £266.5m, as foreign buyers’ appetite for real estate in the capital shows no signs of slowing.
The building, at 240 Blackfriars Road in Southwark, was constructed in 2014 by The Great Ropemaker Partnership, a joint venture between listed property company Great Portland Estates and Ropemaker Properties, the property arm of BP’s pension fund.
Great Portland said the price paid by Wolfe Asset Management (WAML), owned by the Al Gurg family, which also owns Dubai-based conglomerate Easa Saleh Al Gurg Group, was slightly ahead of the building’s value in September.
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