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You are here: Property / Broadgate sale falters

Monday May 11th 2009

Broadgate sale falters

Archived article dated Monday May 11th 2009

MGPA is understood to have abandoned plans to purchase Broadgate in the City according to reports over the weekend..

British Land was looking to sell a 50 per cent stake that would have valued the complex at £2.5bn. Broadgate has an estimated £2bn debt, of which MGPA would have assumed half. This meant it would have needed to have written a £250m cheque to purchase the 50% shareholding. According to a report in the Independent On Sunday MGPA wanted to find a partner to share the stake, and is understood to have approached the sovereign wealth fund Abu Dhabi Investment Authority. But, it could not find a partner.


Tagged as: broadgate | property

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