The co-owners of London's iconic Burlington Arcade have announced plans to sell the renowned global luxury retail destination.
The Burlington Arcade, an iconic runway uniting Piccadilly and Bond Street and adjacent to the Royal Academy, has been heralded as a true luxury landmark ever since it was unveiled to great acclaim in 1819.
The Arcade has long been favoured by royalty, celebrities and British society as the home of rare gemstones, vintage watches, bespoke footwear, and the finest leather and cashmere accessories.
Since 2010, Thor Equities and Meyer Bergman have sensitively repositioned the 0.5 acre freehold West End estate into a leading global luxury destination.
"The Burlington Arcade is a historical and architectural masterpiece, and one of the most renowned retail destinations in the world," said Joseph Sitt, CEO of Thor Equities.
"With its magnificent redesign and new luxury tenants, the property will remain a treasured London destination for generations to come."
The longest covered shopping street in the United Kingdom with approximately 37,000 sq ft of retail space and a combined frontage of over 1,100 sq ft, the Arcade attracts over 4 million visitors a year.
“We have restored the lustre to this gem of a property and benefited from the anticipated surge in demand of brands from across the globe that are seeking to open stores in London’s luxury shopping quarter of Mayfair,” Markus Meijer, CEO of Meyer Bergman, said, adding: “Burlington Arcade is one of our signature investments."
CBRE has been appointed to market the property and is expecting to attract significant investor interest from overseas, particularly from the Middle East and Far East.
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