Salvatore Ferragamo Italia SpA, the Italian luxury shoemaker that sold shares in an initial public offering in June, agreed to pay a record rent as the company renewed its lease on the U.K.’s most expensive shopping strip.
Paintings by Gerhard Richter, Andy Warhol and Jean-Michel Basquiat boosted a 87.9 million-pound ($146 million) Sotheby’s auction as wealthy collectors from 40 countries competed for established and emerging art trophies.
Tribeca Holdings Ltd., managed by Irish investor Aidan Brooks, paid about 12 million pounds ($19 million) for a store on London’s New Bond Street leased by an LVMH Moet Hennessy Louis Vuitton SA affiliate, two people with knowledge of the transaction said.
Irish investor Aidan Brooks’s Tribeca Holdings Ltd. paid 13 percent more than the asking price for a shop on London’s Bond Street that generates slightly more income than a U.K. government bond. It beat three other offers.