Carnaby Street sold for pounds 90m

Carnaby Street, the mecca of fashion, music and culture in London's swinging Sixties, has been sold for pounds 90m.

The area, which is now a mainly a haunt for foreign tourists, has been bought by the property company, Shaftesbury, from the Dutch company, Wereldhave.

The area in and around Carnaby Street include shops and studios but in the 1960s it was home to men's fashion boutiques in an era when acceptable dress included pink frilly shirts and crushed velvet jackets. The Carnaby Estate will join the 120 shops and restaurants the company already owns in central London.