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One of London’s most prestigious addresses – pulling in a staggering four million visitors a year to its famous archways – Burlington Arcade has been sold by Thor Equities and Meyer Bergman to the Reuben brothers for an impressive £300 million.
The historic shopping destination has gone through many iterations since it opened in 1819. Most recently, after acquiring the site for £104 million in 2010, Thor Equities and Meyer Bergman enlisted the help of renowned architect James Fobert to design a host of excellent renovations that included beautiful restorations of some details from the original 1800s design.
Speaking about the sale, Chief Executive of Thor Equities Joseph Sitt says; “After repositioning and restoring the Burlington Arcade to its former glory, we felt the time was right to sell this historic landmark… With its magnificent redesign and new luxury tenants, the property will remain a treasured London destination for generations to come.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.