Amancio Ortega, the co-founder and former Chairman of Zara owner, Inditex, has acquired a “island site” on London’s Oxford Street for around £220 million, Property Week reports. The seller of the properties is an Irish investor, Cosgrave Property Group.

Ortega is also in discussions to acquire Jubilee House at the Oxford Street for around £165 million. Tenants in the two Oxford Street properties include Zara, New Look and River Island. CB Richard Ellis advised Cosgrave, while Cushman & Wakefield advised Ortega on the deal.

Click here for the story from Property Week.