BP Pension Fund has sold its Berkeley Square Estate for just under £330m to a private investor.
But it is refusing to comment on reports that the deal was struck after talks with an Arab consortium became deadlocked.
Last month, it was reported that the property was being sold to an Arab consortium led by the Saudi Arabian royal family which had offered £345m. CB Hillier Parker advised BP Pension Fund while the private investor - who came in with his bid on Monday - was advised Saxon Law.
BP property finance manager Keith Manning said the proceeds from the sale would be reinvested in property with the aim to build “a fully diversified portfolio”.
By Michael Schiniou
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers