Middle East Continues It's Take Over Talks

Dubai has accelerated its growth potential in the UK's property market with the purchase of a number of high profile companies.

In a week that Dubai-backed groups paid more than £300m for shed developer Gazeley and confirmed talks with office developer Minerva, it has emerged that a Middle East fund is backing a bid for Trillium.

A number of suitors have been linked with the purchase of Land Securities Trillium including Tchenguiz and AAIM, Australian group Macquarie, Goldman Sachs and Charterhouse Capital Partners.

The interest from the Middle East is seen as a favourable development given that the purchase would be better capitalised and not be be shrouded in debt.

The purchase by a foreign consortium will benefit will include the control of an estate with a government covenant.