Zara buys London West End office for $789m

Spanish billionaire founder of fashion chain Zara Amancia Ortega has plans to pay £600 million ($789 million) in a London West End deal through his real estate investment vehicle Pontegadea Inmobiliaria.

The sellers of The Post Building in London were Brockton Capital and Oxford Properties.

The property houses the headquarters of the consulting firm McKinsey, which occupies half of the 30,000-square-meter (323,000-square-foot) property. Another tenant is Rothesay Life, the life insurance company.

The purchase of this new building is one of the largest investments made by Pontegadea in 2019. Last year it acquired the Adelphi building for £550 million ($723 million), bringing the value of the firm’s London portfolio to £1 billion ($1.32 billion).

Earlier this year in the United States, the Spanish firm acquired Troy Block, two newly constructed, class A+ office t