| The purchase was undertaken through a Jersey property unit trust and the National Bank of Dubai was one of the funding partners taking a significant stake through a special investment vehicle. The development is a substantial 325,000 sq ft office scheme, with a 20,000 sq ft cinema and 15,000 sq ft of high quality restaurant and retail accommodation. It is a 1.5 acre site in Hammersmith, West London.
Completion is expected in 2011. The redevelopment will have an estimated value on practical completion of c£250m. |