Zara founder buys up Oxford Street properties

Spanish billionaire founder of Zara Amancio Ortega has bought up a cluster of properties on the east end of London’s Oxford Street for more than 400 million pounds.

Ortega has reportedly bought a number of properties including a development at 26-48 Oxford Street from property firms Land Securities and Frogmore through his investment vehicle Ponte Gadea, according to The Sunday Times.

The deal is also said to include Primark’s 149,000 square foot flagship, as well as three other retail units.

This property buying spree comes after Ortega bought Rio Tinto’s St James’s headquarters earlier this year for around 250 million pounds.

Ortega founded the fashion giant Zara in 1975 and his Inditex fashion empire has grown to include Massimo Dutti, Bershka and Pull & Bear.