DUBAI — Istithmar World PJSC, the overseas investment arm of Dubai World, has reportedly sold an office building on London’s Trafalgar Square for $272 million. Grand Buildings, the landmark Victorian office property in London’s West End, was bought by a private Russian investor, according to various reports coming from London. Dubai World’s spokesman was not available on Wednesday for comments on the reports. The sale of the London property came as no surprise as Dubai World, which manages a group of businesses, has said it planned to sell assets to repay creditors as it seeks to renegotiate the terms of $23.5 billion in debt. In November, Istithmar sold two properties in the same district to Great Portland Estates Plc for £10 million plus a share of the buildings’ future profits. Istithmar bought the 200,000 square-foot Grand Buildings in 2005 for £155 million five years ago. Grand Buildings includes retail outlets and office space, which is let to Enterprise Oil. The property was constructed in the 1870s. — issacjohn@khaleejtimes.com