GIC completed the acquisition of a 75% stake in Paddington Central from The British Land for $891m.

GIC, a private equity firm, completed the acquisition of a 75% stake in Paddington Central, a campus, from The British Land, a property development and investment company, for $891m. The transaction establishes a new joint venture with ownership split 75:25 for GIC and British Land respectively. "We are pleased to invest in Paddington Central, a high-quality office-led mixed-use campus with retail and leisure uses. It is very well-located with connectivity to national rail services and key transport links to Heathrow, West London and Oxford. Our earlier investment in Broadgate has demonstrated the high value of acquiring central London campuses and we are confident that this asset will generate resilient long-term returns," Lee Kok Sun, GIC CIO of Real Estate.