Queen Elizabeth II now has a majority stake in Savile Row, London. Her property company, The Crown Estate, just purchased a 64.2% holding in Pollen Estate, whose portfolio includes over 40 properties on Savile Row and Cork Street. Together with Norway’s central bank, Norges Bank Investment Management, The Crown Estate succeeded in outbidding 86 parties for the deal that amounts to approximately $640 million. David Shaw, head of CE’s Regent Street portfolio, justifies it as a “long-term investment” in their ongoing efforts to buy in high-end restaurants and retail locations. The Queen’s newly acquired properties, which make up one of the most expensive pieces of land in the world, now include stores for the likes of Chopard, Ralph Lauren, Barbour, Tiger of Sweden, Sunspel and more.
- Source: WWD