Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

H&M owner Persson to buy entire village

|
|
 
  
Published: May 24, 2009 at 2:58 PM
Advertisement

ANDOVER, England, May 24 (UPI) -- The British village of Andover and up to 2,000 acres of surrounding lands will soon be owned by H&M owner Stefan Persson, property industry sources say.

The unidentified sources said while contracts for the real estate deal have yet to be finalized, the owner of the Swedish fashion company plans to buy the Linkenholt estate and its surrounding lands for nearly $40 million, The Sunday Times of London said.

The land purchase by the second richest man in Sweden would include 21 homes where residents of villages currently live. No specifics were given regarding what will become of those residents once Persson's purchase is finalized.

The real estate deal will also leave Persson with a manor house, cricket ground, a 425-acre forest and 1,500 acres of farmland.

The Times said Persson's planned purchase of the Hampshire County property marks the Swedish tycoon's second significant land purchase in Britain. The 61-year-old already owns 8,500 acres of land in Wiltshire County.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
The making of the Oscars The Chicago Auto Show The Tibetan Moniam Festival in China
Additional Business News Stories
1 of 21
President Obama Signs Smuggling Prevention Act at White House
View Caption
fark
If we timewarped back by 2000 years, what job would you most qualified to do? No, you can't bring...
BAD: getting caught in a landslide while hiking. WORSE: getting struck by lightning while trying...
Weepy eyes, hot chix, Jersey Shore Ronnie and a guy with mini fishing reels stuck in his beard....
French roadbuilders find 21 German WWI soldiers...and 1 goat
Photoshop this crazy old coot in the cold
Anonymous ends the week by bringing down the CIA webpage. *golf clap*