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NOVEMBER 24, 2000

Ecclestone set to invest in London property

FORMULA ONE ringmaster Bernie Ecclestone is set to invest millions of pounds into property in London, according to reports in the British media.

Ecclestone, the vice-president of Formula One's governing body the Federation Internationale l'Automobile, is reported to be ready to spend £500 million on buildings in the capital.

The 70-year-old, who last week topped the Sunday Times newspaper's 'Pay-List' with an estimated £617 million income, is believed to be on the verge of purchasing One Embankment Place, according to the reports.

One Embankment Place is a shop and office complex built over and around London's Charing Cross train station and is currently owned by the disgraced brother of the Sultan of Brunei - Prince Jefri.