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Report: Asian investor offers to buy Southbank Place property in London

An Asian investor submitted a formal offer to acquire the Southbank Place development in London for more than £875 million, the Financial Times reported, citing two people briefed on the situation.

The property accommodates the London headquarters of Shell and large WeWork coworking space that is set to open this year, the report noted.

The transaction may be closed due to the above asking price offer; however, it could still break down, sources said.

The building is being marketed by developer Almacantar and is being sold through agents Cushman & Wakefield, both of which did not comment on the matter, according to the report.