Istithmar PJSC, a private-equity company owned by the government of Dubai, has bought the Adelphi, one of London's best-known art deco buildings, for about £300 mln (EUR 442 mln).
Istithmar PJSC, a private-equity company owned by the government of Dubai, has bought the Adelphi, one of London's best-known art deco buildings, for about £300 mln (EUR 442 mln).
The sale of the 27,000 m2 building in the West end of London was completed on 13 November, Alan Rogers, head of the firm's real estate unit told reporters. Tenants of the 68-year-old Adelphi, located near the Strand on the river Thames, include the UK's Department of Work and Pensions and Hess Corp., the fifth- biggest US oil company, newswire Bloomberg reported.
