Irish property consortium Quinlan Private has agreed to buy 3.4 acres of prime property in Knightsbridge. The price was said to be 'over £500m (€730.8m)'.
The site, known as The Estate, is being sold by the BP Pension Fund, which said it had received 'numerous proposals' from interested buyers. There were reported to include Abu Dhabi's royal family and a second Irish consortium.
The property lies between the Harrods and Harvey Nichols stores and comprises more than 520,000 square feet of retail, office, residential and hotel accommodation.
Quinlan Private, set up in 1989, owns hundreds of properties and bought the Savoy chain of hotels in May last year.
