Swatch buys another London property in real estate acquisition spree
The watchmaking giant Swatch Group has acquired a building in central London for CHF90 million ($98.5 million).
The property, described by the Swiss horological giant as “prestigious”, is located at 171 New Bond Street, one of the most luxurious thoroughfares in the English capital, just a stone’s throw from Piccadilly Circus.
Since 2006, the building has housed a boutique belonging to the American watch and jewellery brand Harry Winston, which was acquired by the Swatch Group in 2013. The building, which dates back to 1856, has a surface area of 562 square metres spread over five floors, the world’s number one watchmaker said on Friday.
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“In the first half of this year, the Group had already acquired a prime 1347 m2 property at 32 to 33 Old Bond Street for around CHF 120 million, and a store on the Champs-Elysées in Paris,” stated the company’s press release.
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