Bond Investment

A firm controlled by Joseph Safra, known as the world’s wealthiest banker, has agreed a near-£130 million property sale in Bond Street in response to increased investor appetite.

Safra has a fortune valued at £19.4 billion by Forbes Magazine, and the investment firm J. Safra has a number of London properties.

The Brazil-based company owns The Gherkin tower and plans to build a new Square Mile skyscraper called The Tulip.

Its latest property deal is a sale of 144-146 New Bond Street.

The 15,000 square feet retail block is home to Halcyon Gallery. It has been bought by private property investor Trophaeum, which has built up a portfolio of properties in Bond Street and Albemarle Street.

Matt Farrell, managing director at Trophaeum, told the Evening Standard: “We were very keen to acquire the building regardless of the turmoil and chaos related to Brexit”.

He added that the building “is situated in what has become the new prime pitch on Bond Street for luxury fashion brands”.

Anthony Selwyn, at selling agent selling agent Savills, said: “The strength of investor appetite is a direct consequence of how healthy the occupational market is on Bond Street.”

Separately today, developer Great Portland Estates’ boss Toby Courtauld said the clear outcome from the general election “is encouraging increased transaction activity” in the investment market.

GPE, which last month sold a Farringdon office building for £64.5 million, reported 12 new lettings for the first quarter.

www.standard.co.uk/business