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”.
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