Sir Philip Green sells Bhs HQ to Alexander Dellal

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Alexander Dellal, who is the older brother of model Alice, has snapped up North West House on Marylebone Road.

The deal comes at the same time as Sir Philip announced the sale of 185-strong Bhs department store chain to Retail Acquisitions.

The buyer’s grandfather “Black Jack” Dellal was a property tycoon. He had the reputation of being one of the capital’s shrewdest and most successful wheeler-dealers in the casino business during the 1960s and 1970s.

Estates Gazette reports that a price of around £40 million was paid for the 46,499 square foot building, but sources said a  lower price was agreed.

Last year Green bought the freehold of the building from Prudential for £31 million.

A spokesman for Arcadia declined to comment.

Source Article from http://www.standard.co.uk/business/business-news/sir-philip-green-sells-bhs-hq-to-alexander-dellal-10106249.html

March 13, 2015 |
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