China’s sovereign wealth fund is among a trio of Asian investors vying to buy an £800m London office campus from Blackstone, the US private equity firm, in what would be the UK’s highest value property deal since the start of the financial crisis.
China Investment Corporation and government-backed funds from Korea and Malaysia have tabled bids for Chiswick Park, Blackstone’s 1.1m sq ft development, according to people familiar with the process.
The sovereign wealth interest in the property underlines the growing role international investors are playing in London commercial real estate. Buyers from Asia, the Middle East and North America have ploughed billions of pounds into the offices, shops and hotels in the UK capital.