Norway's sovereign wealth fund, the world's largest, buys three London prime properties in a £120m partnership with the Crown Estate

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The Regent Street Partnership has acquired 100 per cent of 1 Princes Street and 6 Swallow Place (Source: Getty)

Norway's sovereign wealth fund has snapped up three London properties in a £120m partnership with the Crown Estate.

The £730.6bn fund, the world's largest, has made the investment through the Regent Street Partnership in which its Norges Bank Real Estate Management has a 25 percent stake.

The Regent Street Partnership has acquired 100 per cent of 1 Princes Street and 6 Swallow Place, and the remaining 33 per cent of 2-4 Princes Street. The properties were owned by a joint venture between Aviva Life and Pensions UK Limited and Public Sector Pension Investment Board, Reuters reported. 

Read more: Nearly half of prime London property is now selling for below asking price

The properties comprise a total of 8,000 square feet of retail space and 11,000 square feet of office space, it added.

Last year, the fund spent £400m buying two major retail spaces on Oxford Street in 2016 including 73-89 Oxford Street for £276.5m and 355-361 Oxford Street for £124m.

Tags: Crown Estate