LEGO Group owners plan to invest in London real estate

The Kristiansen family, owners of the LEGO Group, are looking to expand their investments in London property.

Kirkbi A/S, the company that manages investments for the owners of the LEGO Group, is planning to buy more real estate in the city of London. Bloomberg reports that after buying the Porter’s Wharf office property in London’s King’s Cross, the Kristiansen family fund intends to make more property investments in the UK capital.

“Some investors, including us, are a bit nervous about the development in the U.K.,” Soren Thorup Sorensen, Kirkbi’s chief executive officer, told Bloomberg. “But there are areas in London that aren’t linked to the financial sector.”

The Kristiansen family fund intends to increase its real estate holdings, looking in Germany and Switzerland for opportunities as well as the UK. Property investments in Denmark are not currently viewed as a worthwhile investment prospect by Kirbki, with returns unlikely to meet the fund’s requirements.

Bloomberg puts Kjeld Kirk Kristiansen’s wealth at $5.3 billion, with that of his children – Agnete, Sofie and Thomas – at around $4.9 billion each. Kirkbi owns 75% of the LEGO Group and 30% of Merlin Entertainments, which are the fund’s core assets.