Aberdeen Asset Management has offloaded an Oxford Street property that is home to the Boots flagship store and was the investment firm's biggest holding in the property fund that was suspended earlier in July amid a run on the commercial property fund sector.

The real estate arm of Norges Bank Investment Management confirmed in a statement on July 15 that it had bought a retail and office development in Oxford Street, the principal shopping district in central London, for £124 million from Aberdeen's UK Property Fund.