British Land grabs a £210m site
BRITISH Land has added to its huge swathe of property in Paddington after buying Visa Europe’s headquarters for £210m.
The UK’s second biggest listed landlord said yesterday it has acquired One Sheldon Square at Paddington Central from Malaysia’s Employees Provident Fund.
Paddington Central is a vast 11 acre campus comprising offices, restaurants and shops close to Paddington Station.
British Land bought a majority stake in the estate for £470m from Aviva Investors in 2013 and has been building up its presence since.
It now owns four buildings at Paddington Central, or 800,000 square feet of space, and has two schemes totalling 356,000 square feet under construction.