The Church Commissioners for England has sold a 57.8 percent stake in Pollen Estate in London’s West End to Norway’s USD 870bn oil fund. Pollen Estate, a portfolio of 43 retail and office properties, is said to have gone for a consideration of GBP 343m. The century’s-old estate located in Mayfield was established in 1622. The buyer is described as the world’s largest sovereign wealth fund. Earlier in the month, it was revealed that the fund had spent €425m acquiring Le Madeleine, a mixed-use property in Paris, from BlackRock.
