Oil Fund makes over one billion kroner property investment in London

Leader Yngve Slyngstad for the Government Pension FundLeader Yngve Slyngstad for the Government Pension Fund.Photo: Terje Pedersen / NTB scanpix

The Oil Fund has bought into a property in London.

 

 

According to a press release, the fund paid £112.5 million, or NOK 1.1 billion, for a further 25% stake in 20 Air Street in the center of the British capital city. This corresponds to approximately NOK 4.5 billion on a 100% basis.

The property comprises around 25,000 square metres (30,000 square yards) of office and retail space, in addition to nine flats.

In total, approximately 2.5% of the oil fund is invested in unlisted real estate.

The oil fund has a value of approximately NOK 7,700 billion.

 

© NTB Scanpix / Norway Today

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