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British Land buying 25% stake in West One on London's Oxford Street for £54M

London-focused real estate investment trust British Land Co. PLC agreed to acquire 25% ownership of the 92,000-square-foot West One, a mixed-use property on Oxford Street, London, for nearly £54.3 million.

Under the contract, Norges Bank Investment Management will continue to own the remaining 75% while British Land will be responsible for asset management and any future development activities.

West One, comprising an even combination of office and retail spaces, is fully leased. It is connected to the Bond Street tube station.