Blackstone sells Chiswick Park building to Stanhope | Online

The US non-public equity huge set the 334,000 sq ft property, known as Building 7, up for sale via JLL and Knight Frank last calendar year for all over £300m.

Blackstone, which acquired Chiswick Park from The Chiswick Park Device Believe in in a £480m offer in 2011, experienced already sold most of the buildings at Chiswick Park to China Investment decision Corporation (CIC) for £780m in 2014.

The business park was developed by Stanhope, on behalf of The Chiswick Park Device Believe in.

Stanhope is acquiring it back again with backing from non-public clients as section of a drive to develop up its asset management system.

David Camp, main executive of Stanhope, stated: “Stanhope has completed the purchase of Building 7, Chiswick Park from cash managed by Blackstone. The purchase price was all over £310m.”

It is understood that CIC experienced a pre-emption appropriate to invest in Building 7

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