Amancio Ortega expands London property portfolio
Inditex owner and Spanish billionaire Amancio Ortega has bought an office block in London’s St James’s for over £255 million, according to the Spanish newspaper Expansión.
The Zara founder now owns a London property portfolio worth £1.6 billion, which also includes a £400 million stretch on Oxford Circus and a host of eight other buildings.
Ponte Gadea, Ortega’s real estate arm, has several London offices and retail spaces under its belt, with some of the properties located in financial districts such as the City of London, and major shopping avenues like Oxford Street and Piccadilly Street.
Amancio Ortega’s Oxford Street stretch houses some of Inditex’s stores as well as the Irish clothing retailer Primark. The businessman has become one of the world’s wealthiest men thanks to the fashion group, whose shares have increased by 50% in the last year.
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