Luxury goods maker Hermès is set to acquire the Bond Street store occupied by prestigious jeweller Asprey for £73.5m.
The French fashion house is buying the property, designed by Foster & Partners, from Quinlan Private, the Irish property investment firm that also owns landmark London hotels including Claridge’s and the Connaught.
Hermès is keen to expand its retail empire and is said to be interested in taking over occupation of the store for its own brand. The business is performing well despite the global recession.
Its last set of half-year financial results showed that turnover had increased by 7.6% to €875m (£802m).