Fashion Billionaire Buys Regent Street Retail & Office Block
A retail and office block located on Regent Street in Central London has been bought by Stefan Persson. Ranked #17 on Forbes.comΓÇÖs World Billionaires list, the Swede has amassed a ┬ú14.4bn fortune and owns high street fashion retailer H&M after inheriting it from his father who founded it 25 years ago.
With H&M amongst the existing tenants of this well located office space in the heart of London, the ┬ú225m deal was apparently completed when contracts were exchanged on Friday and is the latest in a series of big money deals on prime commercial property throughout Central London.
Benefiting from having the retail and office space on site already occupied by the likes of Armani Exchange and private equity firm Och Ziff, the property was reportedly purchased through the billionaireΓÇÖs private property company Ramsbury based in Stockholm.