British Land launched a strategy to exploit the boom in prime central London housing with ‘opportunistic’ acquisitions of development sites and investments.
Acquisitions included 17-19 Bedford Street in Covent Garden, which the REIT is said to have paid GMS Estates £10m for, and Wardrobe Court in the City, bought for £57m.
The deals reflected an ongoing interest in residential following the sale of a £500m investment portfolio in 2006.
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