Vogue House sold to billionaire shipping tycoon

Conde Nast has sold Vogue House, the longtime HQ of many of its best-known magazines, to shipping billionaire Eyal Ofer.

The building, in Mayfair’s Hanover Square, was put up for sale earlier this year as Conde Nast moved its staff to the Adelphi Building on the Embankment.

It is set to be renamed 1 Hanover Square when the deal is done.

Ofer bought the property through his business Global Holdings Management Group. Global Holdings already owns a number of properties in London, including Sea Containers House, as well as an extensive portfolio of New York properties.

Josh Lawrence, chief executive officer of Global Holdings Management Group UK, said: “We are excited to announce the purchase of this iconic property, an important and prominent building on one of London’s most prestigious squares. The building is a tremendous addition to our extensive real estate portfolio.”

According to the Telegraph, Ofer paid £75 million for the property, £5 million more than the price it was listed at.

Ofer inherited his fortune from his father Sammy, who made billions in the shipping industry.

Vogue House was built in 1958, and has hosted some of the biggest names in fashion. Longtime editor Anna Wintour started her career at the magazine by working at the building, while Kate Moss and Princess Diana are among the big names to have been hosted there.

The deal covers the leasehold for the property. The Church of England owns the freehold.