Mike Ashley’s London Property Bet
Sports Direct International Plc founder Mike Ashley is continuing to invest in London property, adding £150 million to his bet on the city’s real estate market.
Sports Direct Founder
Mike Ashley is the founder of Sports Direct International Plc, a British sports-goods retailer. He is also the owner of Newcastle United Football Club and the founder of the retail chain House of Fraser. Ashley is a billionaire, with a net worth of £2.7 billion as of July 2021.
Ashley’s Property Investment
Ashley has been investing in London property for some time, and his latest move is to add £150 million to his bet on the city’s real estate market. He has purchased a portfolio of properties in the West End, including a former office building in Mayfair and a retail unit in Covent Garden.
The properties are located in some of the most sought-after areas of London, and Ashley is hoping to capitalize on the city’s strong rental market. He is also looking to benefit from the potential for capital appreciation in the area.
Ashley’s Property Portfolio
Ashley’s property portfolio now includes more than £1 billion worth of assets in London. He has been investing in the city since 2015, when he purchased a stake in the London-based property company, Great Portland Estates Plc.
Since then, he has been steadily building his portfolio, investing in a range of properties, from office buildings to retail units. He has also been investing in the residential market, buying up a number of luxury apartments in the city.
London Property Market
The London property market has been buoyant in recent years, with prices rising steadily. This has been driven by a combination of factors, including strong demand from overseas buyers, low interest rates, and a shortage of supply.
The market is expected to remain strong in the coming years, with demand continuing to outstrip supply. This is good news for investors like Ashley, who are looking to capitalize on the potential for capital appreciation in the city.
Risks of Investing in London Property
While investing in London property can be lucrative, it is not without its risks. The market is highly volatile, and prices can move quickly. This means that investors need to be aware of the potential for losses as well as gains.
In addition, the London property market is subject to a range of taxes and regulations, which can make it difficult for investors to make a profit. This means that investors need to be aware of the potential costs and risks associated with investing in the city.
Conclusion
Mike Ashley is continuing to invest in London property, adding £150 million to his bet on the city’s real estate market. His portfolio now includes more than £1 billion worth of assets in London, and he is hoping to capitalize on the city’s strong rental market and potential for capital appreciation. While investing in London property can be lucrative, it is not without its risks, and investors need to be aware of the potential costs and risks associated with investing in the city.