The Queen and Norway’s sovereign wealth fund have together forked out £381m on Mayfair prime property.
The Crown Estate, the Queen’s property company, and Norges, Norway’s sovereign wealth fund, bought a 64.2% stake in the Pollen Estate from the Church Commissioners for England.
While Norges owns 57.8% of the estate, The Crown Estate snapped up 6.4%.
Pollen Estate has 43 properties in locations such as Bond Street and Savile Row. It has also let shops to Chopard and Ralph Lauren.
The Crown Estate and Norges competed with rival bidders Almacantar, headed by the ex-Land Securities executive Mike Hussey, and Wheelock, led by the Hong Kong billionaire Peter Woo.