Inditex boss buys multi-million London office block
Inditex boss buys multi-million London office block
SPAIN'S richest man Amancio Ortega has just bought an office block in central London for 265 million pounds (€335 million).
Owner and founder of the Inditex empire which includes interiors firm Zara Home, budget clothing chains Zara, Bershka, Stradivarius and Pull&Bear, mid-range fashion stores Massimo Dutti and Uterqüe and underwear outlet Oysho, Ortega continues at the top of the Forbes list with total assets of €46 billion.
His latest investment is the former head office for the multinational mining company Río Tinto, an 11,000-square-metre block in St James' Square, according to the British estate agency journal Property Week.
Río Tinto will continue to rent 70% of the office space, the publication says.
Ortega bought the building through the investment company he owns, Pontegadea S.L.
The clothing chain boss is streets ahead in terms of wealth of his nearest 'rival', Spain's joint second-richest men – Rafael del Pino and his brothers, maximum shareholders in the national transport company Ferrovial with €5.3bn in assets.
They have just made it to the number two spot, according to Forbes, having knocked Juan Roig into third place.
Roig, founder and CEO of the supermarket chain Mercadona, was ahead of the Del Pino brothers until recently with a fortune of €6bn.
