Korea Sovereign Wealth Fund Buys London Property
The Korea Investment Corporation (KIC) opened up their overseas European investment office in London on 1 Bartholomew Lane in December 2011 on the tenth floor. They now purchased an 80,000 square feet block at 1 Bartholomew Lane for around 75 million pounds. The property is opposite of the Bank of England. Hines, a U.S. real estate developer will be the asset manager.
Many sovereign investors started investing in real estate in safe haven markets like London and Paris. Norway’s GPFG made their first real estate venture in the United Kingdom. Large office income-producing properties are in demand in major European core markets.
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