Iconic London Retail Landmark Goes On Sale
The owners of London's iconic Burlington Arcade, Thor Equities and Meyer Bergman, have announced plans to sell the renowned global luxury retail destination, and have selected global property advisor CBRE to market the property. 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 favored 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. Whilst preserving its character as the home of British luxury, the retailer tenant mix has been progressively enhanced to comprise recognized luxury accessories brands, Royal Warrant holders and bespoke craftsmanship. Recently redesigned by British architect Jamie Fobert, the historic space now features beautiful stone floors sourced from English quarries, as well as restored original details including the building's grand upper arches. In 2014, the Burlington Arcade welcomed a string of Chanel-owned labels--swim and lingerie label Eres, watchmaker Bell & Ross, milliner Maison Michael and knit label Barrie. They joined a roster of established retailers including Ladurée, Vilebrequin, Chanel, Harry's of London, The Vintage Rolex Watch Company, Lulu Guinness and Church's. More recently, the Arcade welcomed luxury brands Manolo Blahnik, Frederic Malle, La Perla, and historic perfume house Atkinsons. 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 four million visitors a year.
Tags : INTERNATIONAL