UK property firm Great Portland Estates (GPE) and the property arm of oil giant BP's pension fund, Ropemaker Properties, said on Thursday they had formed a 50:50 joint venture to develop a mixed-use project in London. The joint venture, called Great Ropemaker Partnership, has acquired a development site at 240 Blackfriars Road, SE1 from GPE for £20.5mln (EUR 26 mln). Another £2mln is payable if the site is redeveloped and a further £5mln in priority
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