April 8, 2013 / 11:27 AM / 5 years ago

PCP Capital, Qatar bank bidding $384 mln for U.S. Navy building

DOHA, April 8 (Reuters) - PCP Capital Partners, an investment house run by British dealmaker Amanda Staveley and Qatar First Bank, have submitted a 250 million pound ($383.79 million) bid for for a U.S. Navy building in London’s Mayfair.

The joint bid for the property, 20 Grosvenor Square in Mayfair, was submitted recently, Staveley said on Monday, declining to provide further details.

Overseas investors have parked billions of pounds in London real estate during the global financial crisis, drawn to the relative safety of investing in the city’s best properties.

Qatar has been particularly active, investing in the Shard skyscraper, Harrods department store and the athletes’ village in the Olympic Park in east London.

Staveley is seen as a go-to broker for the Abu Dhabi royal family, and played a prominent role in Abu Dhabi royal Sheikh Mansour bin Zayed al-Nahayan’s 2008 investment in British bank Barclays.

Acquisitions by regional sovereign wealth funds have been slower in recent months, Staveley said on the sidelines of an industry event in Doha. “We expect things to pick up in the autumn,” she said.

Qatar First Bank is an independent sharia-compliant investment firm based in Doha.

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