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Article: Crown Estate pulls plug on Pounds 1.7bn Regent Street float ; PROPERTY
- Article from:
- The Evening Standard (London, England)
- Article date:
- March 11, 2008
- Author:
CopyrightCopyright 2008 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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THE Crown Estate has abandoned a Pounds 1.7 billion flotation on
the London stock market of its property portfolio around Regent
Street .
The firm, which manages the Queen's hereditary land and is one of
the biggest landowners in London, shelved the deal after it became
worried the plans would be made public before they were finalised.
It would have involved listing the Regent Street Estate through a
special purpose vehicle such as a real estate investment trust,
giving investors the chance to buy into the fund and share in its
success.
Property consultants Cushman & Wakefield and CB Richard Ellis
were brought in to advise on the deal but the Crown Estate became
concerned that information ...