Fund adds to existing investment in London

The agreement was signed and completed on 8 November 2024.

Norges Bank Investment Management paid 81 million pounds for its additional 10 percent1 ownership interest, valuing the estate at 794 million pounds including existing debt.

The seller of the interest is Greenwich Hospital. 

Norges Bank Investment Management already owned 58 percent in The Pollen Estate, which it purchased in 2014.

The asset management of the estate will continue to be overseen by the board of the Pollen Estate trustee company.         

The estate comprises approximately 750,000 square feet of predominantly office and retail space.

[1] Norges Bank Investment Management is the fund management division of Norges Bank. All unlisted (or direct) investments in real estate and renewable energy infrastructure are made and managed by subsidiary structures set up by Norges Bank.

 [2] Exact number is 10.253 percent