Norway's oil fund acquires major stake in Covent Garden

2025-03-20 17:00

Shaftesbury Capital

United Kingdom-based property investment and development company

Covent Garden

district in London, England

Norway

country in northern Europe

business

informative

impactful

Norway's sovereign wealth fund is acquiring a sizeable stake in a prominent London location.
The acquisition is valued at £570 million and part of a broader investment strategy.
This move reflects growing international interest in UK property despite slowing local deal-making.

President Joe Biden announced Sunday that he will end his presidential re-election campaign, bringing an abrupt and humbling conclusion to his half-century-long political career and scrambling the race for the White House less than four months before Election Day.

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Shaftesbury Capital

United Kingdom-based property investment and development company

Covent Garden

district in London, England

Norway

country in northern Europe

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In early April 2023, Norway's oil fund finalized a significant real estate transaction by purchasing a 25 percent stake in Covent Garden, London, for £570 million. This iconic location, once exclusively owned by aristocratic families, has now attracted investments from sovereign wealth funds like Norway's, signaling a shift in ownership dynamics in London's prestigious property market. The total valuation of the Covent Garden estate reached approximately £2.7 billion, according to the latest estimates from real estate valuers at CBRE.