More London sold to Kuwaiti’s St Martins for 1.7 billion pounds
London Bridge Holdings bought the site in 1998 and developed More London
London Bridge Holdings has sold More London, a premier real estate asset in London, to Kuwaiti firm St Martins Property Group for approximately 1.7 billion British pounds, according to people familiar with the deal.
London Bridge Holdings had originally planned to refinance More London by next summer but decided to sell the asset due to the attractive offer made by St Martins, which already owns property in London.
“This transaction underscores the success of London Bridge Holdings in transforming a blighted, brown field site into a vibrant and vital global business centre,” the firm said in a statement.
London Bridge Holdings bought the brown field site in 1998 and developed More London, which is adjacent to Tower Bridge and opposite The Tower of London.
Dubai property firm Damac seeks $500m in London listingDubai luxury housing developer DAMAC Properties said it plans to raise as much as $500 million from an initial public share offer in London, betting ... Property
London property prices soar 10% in a month as Gulf investment continuesReal estate prices in London increased this month as a result of a government initiative and purchases by foreigners, including Gulf Arabs, which are ... Property
Report: Kuwait in $2.42bn bid for London real estate complexKuwait has made a £1.5 billion ($2.42bn) bid to buy the More London complex, which includes one of the British capital’s most modern ... Property