British Land sells majority stake in Paddington Central assets to GIC for $886 million

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Reuters UK

(Reuters) – UK commercial landlord British Land said on Monday it had sold 75% stake in most of its Paddington Central assets in London to Singapore’s sovereign wealth fund GIC for 694 million pounds ($885.9 million). Paddington Central is a mixed-used realty asset with predominantly office spaces and some retail properties, housing major corporate firms including Microsoft, Visa and Prudential. ($1 = 0.7834 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Vinay Dwivedi)

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