Lord Sugar's Amsprop starts £200 million property spending spree

Lord Sugar’s real estate empire is launching a £200 million property spending spree, its boss told the Evening Standard.

Amsprop Estates managing director Daniel Sugar, the Apprentice star’s son, said the business it “sitting on a major cash pile” and intends to buy prime London offices and shops.

He added: “We have recently experienced evidence of international buyers becoming seriously attracted to prime commercial real estate that has perhaps been revamped and commercially worked through, to provide an end product that is both very high quality and safe in terms of being well located within the capital.”

The firm this week made a £50 million profit by selling the Sugar Building next to St Paul’s Cathedral that it bought only three years ago.

Dubai-based Al Gurg bought the site for around £80 million.