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Bestseller boss to buy on Oxford Street

The billionaire owner of Danish brand house Bestseller is getting ready to snap up a string of buildings on London’s Oxford Street.

Anders Holch Povlsen, who is also the business’s chief executive, is getting close to paying £172m for a planned redevelopment between Hanover Square and Oxford Street, according to the Evening Standard.

The buildings being bought are understood to include 18 Harewood Place, 14-15 Hanover Square and 293-297 Oxford Street.

Bestseller bought nearby 309 Oxford Street in 2013 for around £100m.

The business reported a 5% increase in sales to €2.7bn (£1.9bn) in 2014.

Povlsen is buying the properties from M&G, advised by Harper Dennis Hobbs.

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