Istithmar, the Dubai government investment agency, has reportedly bought the Shell-Mex office property in London for 'almost £520 mln' (EUR 768 mln). The striking building was sold by a consortium that includes Robert and Vincent Tchenguiz, and David and Simon Reuben, Property Week magazine reported.
Istithmar, the Dubai government investment agency, has reportedly bought the Shell-Mex office property in London for 'almost £520 mln' (EUR 768 mln). The striking building was sold by a consortium that includes Robert and Vincent Tchenguiz, and David and Simon Reuben, Property Week magazine reported.
The 12-floor 51,000 m2 Shell-Mex House, designed by Jewish architect Ernest Joseph, is broadly speaking art-deco in style and was originally the London headquarters of Shell-Mex and BP. Joseph was a leading designer of synagogues. The building's main tenant now is Pearson, publisher of the Financial Times.
In May, The Times newspaper reported that the building was for sale and that the Indian-Kenyan Kandhari family were the front-runners in the bidding. Istithmar and the Ruben Brothers declined to comment on the report of the sale.
