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Broadgate to become REIT

Broadgate-THUMB.jpegBritish Land and fund manager GIC, the 50:50 owners of Broadgate, EC2, have converted the estate into a real estate investment trust.

The new holding company for their joint venture will be called Broadgate REIT Limited.   

The 30-acre Broadgate site now includes 16 separate buildings covering 4.7m sq ft in the City.

In December 2013, GIC agreed to purchase the 50% interest in Broadgate from Blackstone to form a joint venture with British Land.

alex.horne@estatesgazette.com

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