Norway Nafting Fund

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The Norway Oil Foundation signed a transaction of £ 570 million to buy a quarter Covent Garden from the landowner of the UK, landowner Shafesbury Capital, at the last major rate of the Sovereign Feath at The Fortones of Central London.

Norges Bank Investment Management exchanged contracts for the acquisition of a 25 percent non-control share on the Covent Garden estate of 2.7 billion pounds that the cabins will continue to manage. This implies a transaction on the rally of 306 million pounds in terms of the estate of the Grosvenor Duke of Westminster this year.

“This investment emphasizes our faith in the power of London when the portfolio supplements our other quality West End. Covent Garden-one of the most recognized retail, rest and cultural destinations,” said Jaish Patel, head of the UK real estate in Norges.

The transaction first reported Costar News, this year brings Norges investments to London to more than 875 million pounds – its first major acquisitions in the city since 2018.

The fund is also the main shareholder of the London Landmen listed, including the 25 -percent stake in the Chauffsbury.

In the past, he agreed with a private minority. It already owns a fate on Regent -Reaf with Crown Estate and has invested money in pollen near Savile Row, where last year increased its share.

Last year, he also invested outside London, taking the full ownership of the Meadowhall shopping center in Sheffield with a $ £ 360 million with British land.

“The larger picture is the Norges that rolled over the west.

Norges will pay £ 570 million for a one-quarter Covent Garden, which will continue to retain a $ £ £ £ £ £ 2.7 billion.

The cost of the transaction is confirmed by the independent estimates of the locals barriers for the portfolio of 220 buildings around the historic vegetable market and the Royal Opera House in Central London.

The actions of the listed landlords traded at the cost of their assets in recent years, as high interest rates made investors carefully refer to commercial real estate.

SHAFESBURY CEO Jan Hoxworth said the transaction showed that private investors are taking a more positive and electoral view of the sector. “The market has a lot of evidence that Private Capital places a high quality real estate premium. Over the stock market.”

Western end flourished from the rebound in tourism after the pandemic. Shafesbury reported its most lively Christmas in 2024 with more than 1 million visitors a day at Peak Times to its portfolio properties covering Soho, Chinese city and Covent -Harden.

Increasing rent for their shops, restaurants and office premises increased the cost of £ 5 billion by £ 4.5 percent in 2024. The cabinet said that the revenue from the transaction gave it flexibility to reduce debt, invest in existing properties and acquire more buildings within the West End domain.