Sources told Bloomberg that Tribeca Holdings Ltd would be acquiring GBP 130 million or USD 211 million worth of real estate in the Mayfair district in London. The luxury property investor would be purchasing the property from London-based development firm Structadene Ltd. Tribeca would also be buying the said property through a venture agreement with an unnamed company, the sources added.
According to the people with knowledge of the matter, the central London site has nine stores. It also has offices and apartments. Located opposite Selfridges Department Store on Oxford, the said property has 53,000 square feet of space. It is located 175 yards from the Crossrail station at Bond Street which is set to open in five years. According to a Bloomberg report, developers had been making property acquisitions located near Crossrail. Tenants would be more likely to prefer these spots when the Crossrail begins operations in 2018.
Tribeca's investments focus on prime real estate. The firm, managed by Irish investor Aidan Brooks, also gives advice to high net-worth family offices in London and New York.
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