Fayed sells Harrods depository

MOHAMED AL FAYED, the owner of the Knightsbridge department store Harrods, has raised pounds 52.5m by selling the former Harrods depository to Bahrain International Bank. Crown Dilmun, the bank's property development subsidiary, intends to convert the depository, which is situated opposite Harrods, into luxury apartments, offices and shops as part of a pounds 140m redevelopment plan.

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