Hong Kong investor buys menswear firm Crombie's Mayfair shop

The Mayfair flagship shop of upmarket menswear label Crombie has been sold to a Hong Kong investor, despite political turmoil in the Chinese territory and Britain.

Crombie, which was founded in Britain in 1805 and whose goods have been worn by Ronald Reagan and Benedict Cumberbatch, agreed a £9.9 million sale of 48 Conduit Street to the private buyer.

The firm, owned by Hartley Investment Trust, will still occupy the building.

Property agent Savills advised on the disposal of the 6750 square feet property.

Anthony Selwyn, head of London and international retail at Savills, said: “The sale of this prime asset within the core Mayfair retail area demonstrates continued appetite for quality product.”

Hong Kong investors have long been attracted to high rents and long-term income in the West End, including on Bond Street.

New Bond Street is the costliest place in Europe to locate a retail store, a report from Cushman & Wakefield said earlier this month.