Try GOLD - Free
Norwegian wealth fund invests £570m in West End property
The Guardian
|March 21, 2025
Norway's sovereign wealth fund has made a fresh bet on central London by striking a £570m deal to buy a quarter of the Covent Garden estate.
Norges Bank Investment Management (NBIM), which manages £1.4tn by investing state receipts from the oil and gas industry, announced yesterday that it had bought the 25% stake from Shaftesbury Capital.
The £2.7bn portfolio includes more than 200 West End shops that have benefited from a rebound in tourism since the pandemic. It also owns offices, residential units and more than 190 bars, restaurants and cafes.
The head of NBIM's UK property arm, Jayesh Patel, said the investment "underscores our belief in the strength of London with the portfolio complementing our other high-quality West End investments".
This story is from the March 21, 2025 edition of The Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Guardian
The Guardian
'Heroic' rail worker in fight for life after tackling train knife attacker
Single suspect held over stabbings as 11 victims are treated in hospital
3 mins
November 03, 2025
The Guardian
World Cup wave leaves Saracens riding high in the sun
The stars came out to dazzle a record Saracens crowd in a 47-10 derby win for the home side against Harlequins
3 mins
November 03, 2025
The Guardian
Goal machine Haaland's latest double fires City up to second
But Guardiola still criticises refereeing standards at Etihad by saying: They're brave here’
1 mins
November 03, 2025
The Guardian
Southampton sack Still as club slide into the danger zone
Southampton have sacked Will Still after the club dropped closer to the Championship relegation zone.
1 min
November 03, 2025
The Guardian
UK workforce risks loss of extra 600,000 people to poor health - study
An extra 600,000 people will leave the workforce in the next decade because of long-term health conditions unless there is \"a fundamental shift\" in how employers help maintain staff well-being, a report says.
1 mins
November 03, 2025
The Guardian
Nuno hails fans as Hammers hit back in rare win
Nuno Espírito Santo said that his West Ham team had given their fans “something small” to cling on to with a first victory of his tenure and that he hoped a performance of grit, ability and, perhaps most importantly, belief would give them momentum in their fight against relegation.
3 mins
November 03, 2025
The Guardian
Cycles of power The young bike fans reclaiming the streets of Johannesburg
On a hot Saturday spring morning, Karabo Mashele urged a group of female cyclists up the hills of a plush Johannesburg suburb.
3 mins
November 03, 2025
The Guardian
Shafali and Deepti the home heroes as India make history
Wolvaardt hits another hundred but South Africa pay for dropped catches in final
3 mins
November 03, 2025
The Guardian
Reeves is warned not to cut VAT on electricity bills
Proposals being considered by Rachel Reeves to cut tax on electricity bills will backfire, experts have warned, resulting in a giveaway to richer homeowners and undermining the UK's climate commitments.
3 mins
November 03, 2025
The Guardian
Wolves eye O'Neil and Edwards after Pereira exits
Wolves could turn to their former head coach Gary O'Neil after sacking Vítor Pereira, with Middlesbrough's Rob Edwards another leading candidate.
2 mins
November 03, 2025
Listen
Translate
Change font size