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  • Home
  • News
    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    TD Cowen: SVB’s fall does not threaten the stability of the banking system

    Public investment in Ireland will be only for sustainable businesses

    Public investment in Ireland will be only for sustainable businesses

    Jerome Powell warns Fed could raise rates further

    Jerome Powell warns Fed could raise rates further

    JPMorgan: “zero-day” options contracts would sink SPX

    JPMorgan: “zero-day” options contracts would sink SPX

    Used cars prices rise unusually in the U.S

    Used cars prices rise unusually in the U.S

    Chinese mobile manufacturers want to go after Apple and Samsung

    Chinese mobile manufacturers want to go after Apple and Samsung

    ACS to build a battery plant for Panasonic in the U.S

    ACS to build a battery plant for Panasonic in the U.S

    Carvana could be on the verge of bankruptcy

    Carvana could be on the verge of bankruptcy

    Why did Tesla’s stock fall on Investor Day?

    Why did Tesla’s stock fall on Investor Day?

  • Markets
    Pontegadea continues to buy real estate: now the target is London

    Pontegadea continues to buy real estate: now the target is London

    BMW adds to profits thanks to Rolls Royce and Mini

    BMW adds to profits thanks to Rolls Royce and Mini

    Puma achieves record sales in last year with Gulden as CEO

    Puma achieves record sales in last year with Gulden as CEO

    Nike and Decathlon lead as the world’s largest sports retailers

    Nike and Decathlon lead as the world’s largest sports retailers

    Walmart unstoppable: sells U$S 611 billion in 2022

    Walmart unstoppable: sells U$S 611 billion in 2022

    Experts: recession to come at the end of rate hike cycle

    Experts: recession to come at the end of rate hike cycle

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    U.S. housing market could continue to decline

    U.S. housing market could continue to decline

  • Investing
    Hedging hurts more than stock market declines, study says

    Hedging hurts more than stock market declines, study says

    How to manage risk in times of stock market volatility

    How to manage risk in times of stock market volatility

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    Why a physical gold IRA is becoming a hot investing topic

    Home Depot announces dividend increase

    Home Depot announces dividend increase

    The fall in Alibaba’s earnings softens

    The fall in Alibaba’s earnings softens

    Is it better to invest in Stellantis or in Ford and GM?

    Is it better to invest in Stellantis or in Ford and GM?

    The biggest investment mistakes made by Warren Buffett

    The biggest investment mistakes made by Warren Buffett

    Which stocks are attractive for investing in IoT and robotics

    Which stocks are attractive for investing in IoT and robotics

    Mixed results for Uber Technologies in 2022

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  • Technology
    Why Americans want to remove Instagram from their phones

    Why Americans want to remove Instagram from their phones

    Tesla prepares a Model Y update: what we know about “Juniper”

    Tesla prepares a Model Y update: what we know about “Juniper”

    Li-Cycle to recycle lithium batteries in Rochester

    Li-Cycle to recycle lithium batteries in Rochester

    Is it time to bet on tech stocks again?

    Is it time to bet on tech stocks again?

    Amazon goes all-in on live sports streaming

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    ChatGPT’s Chinese competitor to be launched in March

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    Manchester City token collapses for this reason

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INVESTOR TIMES
Home Markets
ACTUALIZADO: March 13, 2023

Pontegadea continues to buy real estate: now the target is London

Amancio Ortega, CEO and founder of Pontegadea, is studying the acquisition of a building that was a former headquarters of the BBC in London.

Pablo Petovel by Pablo Petovel
3/16/2023 - 9:07
in Markets
Reading Time: 2 mins read
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  • Amancio Ortega, after leaving the management of Inditex, has dedicated all his efforts to boost Pontegadea, his real estate business.
  • Pontegadea is buying real estate all over the world, including the United States.
  • The new target of Ortega’s company is an old building in central London.

The Spanish textile businessman and founder of Inditex maintains his interest in London real estate. Through his real estate investment group, Pontegadea, he began negotiations to buy a former BBC headquarters located in the London neighborhood of Fitzrovia.

Ortega plans to invest more than 80 million pounds sterling, almost 95 million dollars, according to CoStar News sources.

The current owner of the building is global investment company Abrdn, formerly Standard Life Aberdeen, which is being advised by local consultancy Savills.

Sources close to the talks note that, at the moment, there is no agreement and it is a negotiation.

Ortega’s real estate group, meanwhile, said that they prefer not to make any statements.

The property has 4,000 square meters and serves as the headquarters of the real estate, services and construction group Kier Group, which has been in the building since 2018 and has a 25-year contract.

This building was built almost a century ago as a printing press and later served as the headquarters of BBC Worldwide.

Amancio Ortega Inditex zara investments
In 2022, Ortega with his real estate firm invested 240 million in the purchase of a building in Glasgow.

Pontegadea and Amancio Ortega’s real estate vision

The London real estate market is, together with the United States and Spain, the most important target for the Spanish investment group in recent times, where it has assets exceeding 3 billion.

Amancio Ortega’s major acquisition in London was The Post Building more than three years ago, for 700 million.

He also bought, among other properties, two properties in Oxford Street, one in St. James, the headquarters of the Rio Tinto company, Almack House, and Devonshire House, a huge building in Piccadilly.

In 2022, he invested 240 million in the purchase of a building in Glasgow.

This operation is one of the few that are occurring in the UK real estate market in recent times, due to the fact that purchases and sales have been paralyzed since the last quarter of 2022 in the face of the increase in interest rates by the Bank of England and, therefore, sellers and compadres, especially those in charge of financing the operations, are speculating on the evolution of prices.

The Spanish businessman’s real estate empire is grouped in Pontegadea, and is valued at 15.3 billion.

As we detailed in Investor Times, in 2022 he made purchases of residential skyscrapers in New York and Seattle, and also acquired office buildings in the United States. However, it abandoned negotiations to buy Meta’s future headquarters in Dublin, Ireland.

Tags: Amancio OrtegaPontegadeaReal estate investments

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Pontegadea continues to buy real estate: now the target is London
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