The Building For Sale
In 1985, there was a buzz in the property industry; the word was out that Michelin were willing to sell Michelin House. The building no longer met the company's needs. It was located in an expensive and fashionable part of London, and did not fit their office requirements.
Many people made bids to buy the building, two of whom were friends. Sir Terence Conran (the restaurateur and retailer) and Paul Hamlyn (owner of the Octopus Publishing Group) had unknowingly been bidding against each other. On discovering this, they formed a partnership to purchase Michelin House. In August 1985, Michelin House was sold to them for 8 million pounds. Plans were then set into action to create a new lease of life for Michelin House. The development included a major retailing store, restaurant, bar and large office space.
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