Grosvenor has completed its sale of Almack House, SW1, to Amancio Ortega, the Spanish billionaire founder of fashion chain Zara.
Ponte Gadea, Ortega’s real estate arm, snapped up the St James’s office block in King Street, SW1, for £232m, just weeks after JLL was instructed by Grosvenor to sell the 97,000 sq ft asset.
Almack House is home to a number of tenants including Warburg Pincus.
Cushman & Wakefield advised Ponte Gadea. All parties declined to comment.
