Qataris buy 20pc of Chelsfield
London, September 29, 2008
The Qatar Investment Authority has bought a 20 per cent stake in British property company Chelsfield Partners, boosting the Gulf state's interest in commercial real estate, the two partners said on Sunday.
Chelsfield, which owns London's Camden market among other notable properties, was formed by Elliott Bernerd and Stuart Lipton, who together created Chelsfield, a listed business that was taken private three years ago.
No financial details of the latest deal were given but one person familiar with the situation said a newspaper reported that the Qataris had paid more than £80 million ($147 million) for the 20 per cent holding was "exaggerated".
Qatar Investment Authority executive board member Hussain Abdullah said property represented a core asset class for the sovereign fund and the investment in Chelsfield offered an opportunity to acquire further assets.