One Of The Biggest London Deals Canned During Lockdown Could Be Back On
Nova is a 550K SF scheme comprising three buildings, two of which are offices and one of which is residential, with flats in that final building having been sold off to individual buyers. The ground floor comprises 17 restaurants and three food kiosks.
Bisnow's London State of the Market event will take a deep dive into the London investment market, and delegates will hear from new Landsec CEO Mark Allan. You can register here.
The deal would be the first undertaken by Singaporean ARA since it bought UK asset management firm Dunedin, as part of a wider push into UK and European real estate. Property Week said the lockdown in Asia prevented ARA from holding an external capital raising for the deal, but it is now confident of raising finance.
If the deal does go ahead, it would be one of a number of transactions involving Asian investors to be reanimated as the lockdown in the UK eases. In June, Link REIT bought the 453K SF Cabot building in Canary Wharf for £380M. Blackstone pulled out of a purchase of the building in March.
Landsec is undertaking the development of the next phase of the wider Nova development in Victoria, a 166K SF building which it started speculatively last year.