Wing Tai Properties sells historic London office, retail block for GBP31 mil to tycoon

Fiona Lam

/ EdgeProp Singapore

June 20, 2026 10:43 AM SGT

fiona.lam@edgeprop.sg

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The building at 1 Savile Row (pictured, in white) has been home to UK luxury menswear retailer Gieves & Hawkes for more than a century. (Photo: LoopNet)

Wing Tai Properties has agreed to sell a freehold office and retail building in London for GBP31 million ($53 million), above valuation, to a real estate vehicle ultimately owned by a Danish medical devices tycoon.

Located at 1 Savile Row, a historic street famous for high-end bespoke menswear tailoring, the property has a net internal area of about 14,000 sq ft of Grade A office space and retail space.

Estimated rental income from the property totalled about GBP800,000 in 2024 and GBP600,000 in 2025, the Hong Kong-listed real estate developer in a bourse filing.

The buyer, NPLH SVR, is a property investment firm whose ultimate beneficial owner is Niels Peter Louis-Hansen.

He is the deputy chairman of Coloplast, a large Danish healthcare company that provides medical devices and services in areas including ostomy care, continence care, as well as wound and tissue repair.

Since 1913, the building at 1 Savile Row has housed UK luxury menswear and military uniform tailor Gieves & Hawkes, one of the oldest bespoke tailoring houses in the world. Before that, it was home to the Royal Geographical Society from 1870.

The iconic Savile Row in central London's Mayfair district was built in the 1730s, with suit makers and other garment craftsmen setting up shop on the street since the mid-1800s.

Wing Tai Properties' indirect wholly-owned subsidiary, New Ego, entered into the sale contract with the buyer on June 17 after trading hours. The deal is expected to complete within five working days from the contract date.

An independent valuer had valued the property at GBP26.3 million as at Dec 31, 2025.

Wing Tai said the net proceeds of about HK$198 million ($32.6 million) from the sale will be used as general working capital for the group.

Its directors see the sale as "a good opportunity for the company to realise its investment at a reasonable price", the bourse filing noted.

"The group monitors the market environment continuously and reviews its property portfolio from time to time with an aim of maximising the return to the shareholders on its property investment business," it added.

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