St Martins, the U.K.-based real estate investment vehicle of Kuwait’s government, bought a London commercial property development for about 1.7 billion pounds ($2.8 billion), according to a person familiar with the transaction.
Roads in central London are carrying one-fifth fewer vehicles as Olympic-only “Games Lanes” push more people to use rail services. The morning rush was hindered by a fire alert on a subway line to the Olympic Park and high-speed “Javelin” shuttle trains suffered disruption in the afternoon.
The developer of the Shard , an 80- story tower being built near London’s Thames river, bought out its only office tenant on the prospect that rents will almost double from the agreed rate when the building is finished.
It ran on Broadway for more than two years, and had three major American tours. Now, for its U.K. debut, “The Color Purple” is trimmed to fit the plucky 180-seat Menier Chocolate Factory near London Bridge.