Thor Equities and Meyer Bergman have exchanged contracts on the sale of London’s iconic Burlington Arcade to a private investor for £300 million ($407 million).
Since acquiring the retail property for £104 million ($141 million) in 2010, Thor Equities and Meyer Bergman have performed several upgrades to the property while maintaining its historic appeal. Tenants include Chanel, swim and lingerie label Erees, watchmaker Bell & Ross, milliner Maison Michael, and knit label Barrie, Ladurée, Vilebrequin, Harrys of London, Lulu Guinness, and Church’s. More recently, the Arcade welcomed luxury brands Manolo Blahnik, Frederic Malle, La Perla, and historic perfume house Atkinsons.
Heralded as a true luxury landmark ever since it was unveiled to great acclaim in 1819, the Burlington Arcade is the longest covered shopping street in the United Kingdom, uniting Piccadilly and Bond streets in the heart of Mayfair. With approximately 37,000 square feet of retail space and a combined frontage of over 1,100 feet, the Arcade today attracts more than 4 million visitors a year.
