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Hermes buys site on New Bond Street

French luxury group Hermes said on Thursday, 1 October 2009, it had bought a property on London's New Bond Street, a venue for high-end retail shops, for £73 million (€80 million, US$116 million).
"Hermes confirms the acquisition of a building located at 167 Bond Street," the group said.

A company spokeswoman told AFP the purchase price was £73 million.

The property is currently occupied by British jewellers Asprey.

The Sunday newspaper The Observer had reported that Hermes had been in competition with another luxury retailer, Chanel, to buy the property from the investment fund Quinlan Private. The paper said the price paid was the highest for a property on New Bond Street for at least 18 months.

Hermes already has five stores in London.

Source: AFP

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Read more: Chanel, Hermes