Witkoff buys Shell-Mex House

STEVEN WITKOFF, the US property baron, snared his first UK acquisition yesterday, securing one of London's best-known landmarks in a deal thought to be worth more than pounds 150m. Mr Witkoff, who heads the privately controlled Witkoff Group, bought the freehold of Shell-Mex House, the 10-storey office block built by Shell in 1931.

Royal Dutch/Shell, which sold the 550,000 sq ft building as part of a cost-cutting drive, said yesterday it would lease back two floors of the Grade II listed building after it had been refurbished. No financial details of the transaction were released.