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Eversheds comment: Songbird Estates move marks step change in approach of sovereign wealth funds to London

  • United Kingdom

    30-12-2014

    Commenting on the Qatari-led $4 billion bid for Songbird Estates, Bruce Dear, head of London real estate at law firm Eversheds, says:

    "This potential purchase of Songbird marks a step change in the way Sovereign Wealth Funds approach their London strategies.

    "Trophy assets are no longer enough. The focus is moving to owning multi-asset trophy entities and entire business districts.

    "The Royal Albert Docks, More London and now potentially Canary Wharf will be owned by international capital, confirming London as a globalised city-state akin to a Singapore on Thames."

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