Lady Tina Green, the wife of Sir Philip Green, enjoyed a £53m windfall after the sale of BHS’s headquarters to Arcadia, the retail business controlled by the couple.....
The deal for Marylebone House in north London is likely to pose further questions for the Greens about their role in the collapse of BHS.
The property transaction is revealed in the annual accounts of Arcadia, which also show that the owner of Topshop, Dorothy Perkins and Wallis has a pension deficit of £151m.
Marylebone House was not owned by BHS but controlled by Lady Green through a company called Wilton Equity Ltd, which is registered in the British Virgin Islands.
However, Arcadia bought the share capital in Wilton Equity for £53m, giving it ownership of the building. The company says the deal was conducted “on an arms length basis following advice received from a third party valuer”.
Arcadia is owned by Taveta Investments, whose shareholders include Lady Tina Green, the Arcadia chairman Lord Grabiner, and other directors.
A spokesman for Arcadia said: “The accounts lay out all the details of the transaction.”
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