Bestseller's Povlsen to buy Oxford Street assets

By

Cajsa Lykke Carlson

Published
Oct 1, 2015

Denmark's Bestseller could soon have even more high-profile properties in London as its owner, billionaire Anders Holch Povlsen, is allegedly buying a collection of holdings between Hanover Square and Oxford Street for £172m, according to Estates Gazette.

The properties comprised of 3-18 Harewood Place, 14-15 Hanover Square, and 293-297 Oxford Street are being sold by M&G. Earlier this year, M&G earmarked the assets in the area for a redevelopment that could have an end value of up to £400m.

Povlsen already owns adjoining Oxford Street assets 301-308 and 309, which means he could create a flagship development. The new site is expected to comprise around 25,000 sqft. of prime retail space and 75,000 sqft. of offices and residential, Estate Gazette reports.

The opening of Crossrail in 2018 has made Hanover Square a bit of a focal point.