Tech billionaire Larry Ellison has crossed the Atlantic to buy a London office property for roughly $202.8 million.
The Oracle co-founder acquired the property from the Hong Kong listed investor Chinese Estates. According to a CoStar report, the West End property at 11-12 St. James’s Square was acquired by the California-based Lawrence J Ellison Revocable Trust, which lists Ellison as the sole beneficiary, trustor and co-trustee with Paul T. Marinelli the other co-trustee.
The mixed-use building was built in 1800 and spans 82,024 square feet over lower ground, ground and six upper floors. The property is almost entirely vacant and Ellison is reportedly planning to move one of his businesses to the site.
The property last changed hands in 2017 when Chinese Estates paid Malaysia’s Employees Provident Fund roughly $219 million for the building.
Photo courtesy of LoopNet
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