Chiswick Park sale finalised
by James Renoux-Wood Tue 7 January 2014, 5:12 pm
China Investment Corporation (CIC) has bought Chiswick Park in Hounslow for around £780 million.
As Great West magazine reported in November, CIC has been in talks with American investment group Blackstone over the sale of the 36,000 sq m site, which will become Beijing’s biggest ever real estate purchase in Europe.
Blackstone bought the site in 2011 and went on to secure lettings for numerous international companies, including Pepsi, Swarovski, International Game Technology, Aker Solutions and Absolut. It refinanced Chiswick Park with two loans totalling £600 million in 2013 after being unable to sell it in 2012 for its target price of £800million.
Chiswick Park was designed by architect Richard Rogers.
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