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14834Re: [LandCafe]

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  • Harry Pollard
    Jan 1, 2013

      Looks like a great way to encourage prosperity. Look how much the economy improved over a short time.

      Let me know when another opportunity comes up. I have $1.95 to invest (maybe as much as $2.50 if I skip breakfast).

      Have a great New Year and many of them.


      Alumni Group
      Henry George School of Los Angeles
      Box 655  Tujunga CA 91042
      818 352-4141

      On Mon, Dec 31, 2012 at 11:41 AM, Dave Wetzel <davewetzel42@...> wrote:

      happy New Year!
      Chiswick Park consistes of 1.8m sq ft. of offices.
      It sits on the 33 acres site of the former Chiswick Bus Works and bus training school developed in the 1920s and which was sold by London Transport in the 1980s.
      Purchased in April 2011 for £480m Blackstone's have spent £70m developing a new 200 sq. ft. office block but arenow selling most of the site for a reported asking-price of £880m even though they are keeping back a small part of the site worth circa £100m which they expect to develop and sell for circa £300m.

      Chinese vie to buy £800m London offices

      By Ed Hammond, Property Correspondent

      Chiswick Park business park©Alamy

      Chiswick Park business park

      China’s sovereign wealth fund is among a trio of Asian investors vying to buy an £800m London office campus fromBlackstone, the US private equity firm, in what would be the UK’s highest value property deal since the start of the financial crisis.

      China Investment Corporation and government-backed funds from Korea and Malaysia have tabled bids for Chiswick Park, Blackstone’s 1.1m sq ft development, according to people familiar with the process.

      The sovereign wealth interest in the property underlines the growing role international investors are playing in London commercial real estate. Buyers from Asia, the Middle East and North America have ploughed billions of pounds into the offices, shops and hotels in the UK capital.

      If the asking price is met, the sale of Chiswick Park would also be a fillip to Blackstone. The private equity group bought the property from a consortium ofAberdeen Asset ManagementSchroders and Stanhope at the start of 2011 for £480m.

       Seasons Greetings,

         Dave Wetzel

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