Bond Buy: Jameel family pay 21m for Piaget store

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The Independent Online

A Saudi Arabian family, estimated to be worth $3bn, has bought the Piaget store on Old Bond Street in yet another record deal on London's exclusive shopping street.

The Jameel family, whose Abdul Latif Jameel Group is the world's largest independent Toyota distributor, is thought to have paid Irish investor Aidan Brooks £21m for the store, let to the Swiss luxury watch-maker.

Malaysia's Employee Provident Fund, advised by ING Real Estate, is in talks to buy 41 Lothbury from Propinvest Asset Management for £100m.