Billionaire Mike Ashley Adds £150 Million to London Property Bet

Ashley’s Mash Holdings allocated funds to develop Chelsea site
Project features 78 apartments in exclusive UK neighborhood

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By Benjamin Stupples

July 5, 2023 at 3:13 PM UTC

This article is for subscribers only.

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.