Norway sovereign wealth fund buys stake in London property portfolio

Norway’s sovereign wealth fund announced this week that it has bought a 25 per cent stake in a mixed-use property portfolio located in London’s Mayfair district for 305.7 million pounds ($376.53 million).

The 2.3 million square feet portfolio is predominately office and retail assets clustered around Grosvenor Street and Mount Street, the fund said in a statement. The seller of the stake is real estate group Grosvenor, which retains a 75 per cent interest and will manage the properties, the Norwegian fund added.



The transaction values the property portfolio at 1.223 billion pounds, it said..