German lender LBBW has backed the purchase by Cain Hoy Enterprises of 17-22 South Audley Street, W1, with a £40m loan. It is the home of luxury goods store Thomas Goode, which will ultimately vacate the block.
Cain Hoy has bought the building from Lord Verjee for £80m.
The loan reflects 50% of the purchase price. Cain Hoy plans to convert the building into a 50,000 sq ft retail and leisure venue.
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