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The Republic’s sovereign fund GIC has divested its entire interest in the Bank of America Merrill Lynch Financial Centre (MLFC) in London for £582.5 million (S$1.2 billion).
The stakes were sold to Norges Bank Investment Management, Norway’s sovereign wealth fund.
Located at 2 King Edward Street in London, the office building has an area of 585,000 sq ft and has a net lettable area of about 550,000 sq ft. GIC bought the London property from Merrill Lynch in 2007 for £480 million (S$983 million).
Earlier this month, GIC has recently completed the acquisition of Italy’s RomaEst Shopping Centre in which it already had a 50 percent interest.
Image: Bank of America Merrill Lynch Financial Centre (MLFC) (Source: GIC)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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