The real estate unit of Ontario Municipal Employees Retirement System agreed to buy a 50 percent stake in the commercial real estate part of a 320 million-pound ($483 million) London project for an undisclosed amount from Britain’s Crown Estate.
Volkswagen AG’s premium Audi brand is unveiling a London showroom featuring giant LED screens that let customers design their own vehicles, part of the carmaker’s effort to bring in younger, media-oriented buyers.
Mayfair and St. James’s just aren’t big enough for all the companies that want a piece of London’s most expensive neighborhoods. Many are now settling for less prestigious city-center addresses, creating new hot spots in the office-property market.
A collection of paintings by L.S. Lowry formed by the U.K. caterer and hotelier, the late Charles Forte, is estimated to raise as much as 16.9 million pounds ($26.2 million) at an auction in London next month.