News 12
Canada Pension Plan to build in busy London centre
In a busy week for the Canada Pension Plan Investment Board that
already included a major investment in California shopping malls,
it revealed plans Wednesday to develop a site in the centre of busy
London, England.
The investment arm of the Canada Pension Plan said it has
entered into a joint venture to develop a five-building complex at
Victoria Circle in London.
Its equal partner in the venture is Land Securities Group PLC,
the United Kingdom's largest commercial property company, which
already owns the 5.5-acre Victoria Circle site, across from
Victoria Station.
Land Securities will sell the land to the joint venture for
$254.3 million and demolition of existing properties on the site is
planned to begin in September.
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Source - http://www.montrealgazette.com/index.html