Blackstone exchanges on Chiswick Park

Blackstone is reported to have exchanged on its £480m purchase of Chiswick Park.

The american private equity firm is expected to complete the deal very soon, according to Property Week. Blackstone entered into exclusive talks just before Christmas, having beaten of interest from  London & Stamford Property, and others. 

The 1.9m sq ft business park is presently owned by the Chiswick Park Unit Trust and managed by Aberdeen Asset Management, Schroders and Stanhope. It was last valued at £350m in 2010. Recent lettings pushed the price up to the £480m reported.

See previous coverage.

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