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Great Portland enters London business property joint venture
Great Portland Estates (GPE) has agreed a joint business property deal with the Brookfield Properties Corporation (BPC).
The BPO has taken a 50% stake in the 100 Bishopgate Partnership in a London commercial property deal worth £42.975 million.
BPO will be the development manager for the site and has also entered a pre-construction services agreement to act as the main contractor. Property and Asset Management will continue to be covered by GPE.
Toby Courtauld, chief executive of GPE, stated it was delighted to be working together with Brookfield on what he believes to be a building of the highest quality in a prime City location.
"Bringing together "Brookfield's undoubted skills in delivering buildings of this kind with our local expertise provides a powerful combination," he said.
GPE is a central London property investment and development company and owns more than £1.1 billion of real estate, primarily in the West End of the capital.
Posted by Sarah Smith
The BPO has taken a 50% stake in the 100 Bishopgate Partnership in a London commercial property deal worth £42.975 million.
BPO will be the development manager for the site and has also entered a pre-construction services agreement to act as the main contractor. Property and Asset Management will continue to be covered by GPE.
Toby Courtauld, chief executive of GPE, stated it was delighted to be working together with Brookfield on what he believes to be a building of the highest quality in a prime City location.
"Bringing together "Brookfield's undoubted skills in delivering buildings of this kind with our local expertise provides a powerful combination," he said.
GPE is a central London property investment and development company and owns more than £1.1 billion of real estate, primarily in the West End of the capital.
Posted by Sarah Smith
Thu, 1st Apr 2010