NBIM buys London mall
Norges Bank Investment Management, which invests on behalf of Norway’s Government Pension Fund Global sovereign wealth fund, has agreed to purchase the West One shopping center in London from Orchard Street Investment Management for £254 million ($397 million).
An official statement has not been released. In May, Orchard Street reportedly placed the Oxford Street mall on the market. The 47,000-square-foot enclosed mall is located on top of the Bond Street underground station, providing a three-level shopping center together with a 44,500 square feet of office space. The retail unit opened this year. Tenants include Boots, M&S Food, Toy Store, McDonald’s, Marks & Spencer, Superdrug and Pret a Manger.
NBIM has been an active investor in the West End, and earlier this year the organization completed a £190 million ($297 million) purchase of the 74,573-square-foot Queensberry House.
The sovereign wealth fund investor has al