GIC, the investment arm of the government of Singapore, has increased its stake in British Land to more than 5%.

The UK’s second largest quoted property company revealed today that GIC had increased its stake to just above 5%, buying more than 5m shares to increase its holding to 26m shares valued at £184.9m.

British Land shares today are trading at 711.50p.

This makes it the company’s fourth largest shareholder behind pension fund managers ABP and Legal & General and investment manager Capital Group.

Sovereign wealth funds have been a feature of the UK property sector the past two years and have become the most important investors in world financial markets, taking advantage of the liquidity problems plaguing banks. GIC also owns a stake in Swiss bank UBS.