UK retail billionaire Mike Ashley has shifted more of his money into a company he set up to drive the development of a luxury residential project in Chelsea, one of the most exclusive parts of London.
The Frasers Group Plc founder allocated £150 million ($190 million) during May to McGrove Developments, which was established in 2014 and is owned through his personal investment firm, Mash Holdings, according to UK registry filings.
The move boosts one of his biggest bets outside the sector that made his fortune and will help finance the project, which consists of 78 high-end apartments, an on-site gym and concierge services.
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