An international consortium is buying a mixed-use London development for £308m (€421m) from The Carlyle Group.
Carlyle last year appointed Knight Frank to find a joint venture partner on its Bankside Quarter project south of the Thames.
The firm said at the time that the central London development had attracted “unsolicited enquiries” from Middle Eastern, Asia-Pacific and North American investors.
An international consortium, including the UK’s Native Land, the Singaporean government’s Temasek and Hotel Properties, as well as Malaysia’s Amcorp Properties, have agreed to buy the scheme.
Upon completion of the deal, the consortium will develop the £1bn scheme, which includes Sampson House and Ludgate House. Retail, office and residential space will make up the scheme, which will be built in phases.
The project will include five residential buildings and four office buildings.
Planning consent for the redevelopment of the 5.3 acre site, was secured by Carlyle in March last year.
The Carlyle Group had managed the asset for its third European fund, CEREP III.
The 1.4m sqft scheme is in the same district as an ongoing tower redevelopment by CIT Developers in which Hermes and Canada Pension Plan Investment Board are invested.
