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GIC to pay £48.5m for 50% stake in UK lifestyle complex

Fund already has stake in the development via JV with seller Hammerson

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Published Fri, Dec 30, 2016 · 09:50 PM

    Singapore

    SINGAPORE sovereign wealth fund GIC will pay close to US$60 million for a 50 per cent stake in a leisure and dining development in Britain, a joint statement said on Friday.

    GIC, one of the world's top 10 state investment funds, will pay British property firm Hammerson £48.5 million (US$59.6 million or S$86.2 million) for a larger stake in the newly opened Watermark development in Southampton, the statement said.

    GIC

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