Norway 'to invest in UK property'

The sovereign wealth fund of Norway is planning to invest in the UK's commercial property sector in the near future, according to reports.

It is believed the fund, which is overseen by Norges Bank Investment Management, will begin to buy up viable assets on these shores in the second half of this year.

According to the Daily Telegraph, around $20 billion (£14.5 billion) has been set aside to be used to buy real estate in the next few years, with profits from oil and gas reserves behind the funds.

Yngve Slyngstad, executive director of Norges Bank Investment Management, told the newspaper: "The UK will be one of the first markets we will go into.

"We look for markets with transparency and a good legal system to protect our investment."

Timothy Lambert, sales and marketing manager at residential and commercial property consultancy Ducalian, recently urged investors to get back involved with the market.