Thursday, August 5, 2021

Burlington Arcade to be sold for £400 million

The iconic Burlington Arcade in Mayfair, London has been put up for sale by its owners for £400 million.

The high-end retail arcade, which links Bond Street and Piccadilly, will be sold by its joint owners Thor Equities and Meyer Bergman.

The partners bought the UK‘s longest covered shopping destination for £104 million in 2010, and have since focused on adding luxury brands and bespoke retailers to the estate.

Spanning 37,000sq ft and 1100sq ft of combined frontage, the arcade is home to prestigious brands like Bell & Ross, Maison Michael, The Vintage Rolex Watch Company, Ladurée and Chanel.

READ MORE: An entire Cardiff shopping centre has been put on the market

The CBRE has been tasked with selling the landmark retail destination and expect significant interest from Middle Eastern investors.

“The Burlington Arcade is a historical and architectural masterpiece, and one of the most renowned retail destinations in the world,” Thor Equities chief executive Joseph Sitt commented.

“With its magnificent redesign and new luxury tenants, the property will remain a treasured London destination for generations to come.”

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