Malaysia’s KWAP Acquires Office Property in London for £200 Million
Kumpulan Wang Amanah Pencen (KWAP), a Malaysian state pension fund purchased a penultimate office property at 10 Gresham Street in London for £200 million. This building is the City of London headquarters of Lloyds Bank. The Canada Pension Plan Investment Board (CPPIB) and Hammerson, a UK REIT bought the property in August 2010 in a joint venture.
Hammerson is selling off office properties for retail property. The firm is focusing on large shopping centers.