fb

ACCA SPRING SALE 25% OFF

It’s all very well buying a shop for £1,500,000,000 but there’s just nowhere to park your car when you arrive for work.

It’s all very well buying a shop for £1,500,000,000 but there’s just nowhere to park your car when you arrive for work.

Harrods, arguably the most famous shop in the world, was recently purchased by the Qatar Holding Group from Mohamed al Fayad. The price paid was £1.5billion which is a pretty large amount of money in anyone’s books.

The Qatari ruling family are behind the Qatar Holding Group and have interests in a number of businesses around the world. They also have a fleet of super cars including a Lamborghini Murcielago worth £350,000 and a Koenigsegg CCXR worth slightly more at £1.2 million.

No doubt there was a comprehensive due diligence exercise undertaken before the purchase of Harrods with accountants and financial advisers going through the business and the accounts in fine detail but did anyone ask where the parking spaces were? Harrods is in Knightsbridge in central London and is renowned for being short of parking spaces.

The Lamborghini is capable of going from 0 to 60 mph in 3.2 seconds whilst the extra £850,000 it costs to buy the Koenigsegg enables you to get to 60mph 0.3 seconds quicker at 2.9 seconds. Recently however, they went from 0 to 60 mph in approximately 3 hours.

The cars were illegally parked outside Harrods and after initially being given parking tickets were then clamped and a passerby filmed the results.

The parking fines were £120 for each car but by paying them within 14 days they were reduced to £70 each.

Share this entry

Recent articles

View All Articles
The road to electric cars is full of potholes…
May 28, 2025
Title
The road to electric cars is full of potholes…
Excerpt

The electric vehicle (EV) market has seen tremendous growth in recent years, with major car manufacturers and startups […]

Is the stage set for airline pricing at the theatre?
May 26, 2025
Title
Is the stage set for airline pricing at the theatre?
Excerpt

Imagine paying £300 for a theatre ticket, only to find there’s more to pay if you want to […]

WeightWatchers files for bankruptcy as drugs take over…
May 12, 2025
Title
WeightWatchers files for bankruptcy as drugs take over…
Excerpt

Weight-loss drugs like Ozempic and Wegovy have revolutionised the weight management market, leaving companies which were once dominant […]

A whole new world: Disney’s Middle East move
May 08, 2025
Title
A whole new world: Disney’s Middle East move
Excerpt

The Walt Disney Company has announced its first-ever theme park in the Middle East, set to be built […]

Big 4 beware: Unity’s got $300M and no audit drama…
Apr 29, 2025
Title
Big 4 beware: Unity’s got $300M and no audit drama…
Excerpt

The former boss of EY and the former chief operating officer of PwC in the UK, are launching […]

Nothing to whine about…
Apr 22, 2025
Title
Nothing to whine about…
Excerpt

The wine industry, steeped in centuries of tradition, is experiencing a shake-up that’s sparking debate among enthusiasts and […]

PwC exits 9 African countries
Apr 18, 2025
Title
PwC exits 9 African countries
Excerpt

PwC, one of the Big Four accounting firms, recently announced the closure of its operations in nine Sub-Saharan […]

Using AI to reward staff
Apr 12, 2025
Title
Using AI to reward staff
Excerpt

In a bold move that combines innovation with employee incentives, UK-based law firm Shoosmiths has become the first […]