Blackstone, the American private equity group, is set to buy half of the Broadgate Estate in the City of London from British Land.

The deal could be announced as early as today when British Land discloses its results for the three months to June 30, which are expected to show a further fall in asset values.

People familiar with the negotiations said that Blackstone’s real estate investment division is poised to pay £150m for a 50% share of the 16 office buildings close to Liverpool Street Station.

The Times