Iconic London shopping arcade Burlington on sale for £400m

Tue, 17 Jan 2017 | COMMERCIAL PROPERTY

An iconic London shopping promenade that’s home to luxury brands and has served as a location for a number of Hollywood films has been put up for sale for a reported £400 million.

Burlington Arcade in Mayfair, built in 1819, has been put on the market by property firms Meyer Bergman and Thor Equities after they restored many of its original features. The two owners acquired the half-acre site in 2010 for £104 million.

CBRE, who are handling the sale, said prime London retail property is a “very attractive” prospect to foreign buyers looking to capitalise on a weak pound and good exchange rates.

The luxury covered promenade, which links Piccadilly and Bond Street and is home to brands including Chanel, Laduree and Penhaligon’s, has had new stone floors put in and seen original features restored.

Meyer Bergman chief executive Markus Meijer said: "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."

CBRE head of UK retail Phil Cann said: "Burlington Arcade is known worldwide and we expect the sale to attract strong interest from investors in the UK and around the globe.

"The weakening of the pound and favourable exchange rates fuelling tourist spending means prime London retail is a very attractive prospect to foreign buyers."

The promenade was commissioned by Lord George Cavendish and designed by architect Samuel Ware. It originally consisted of a single straight walkway with 72 two-storey units. The site has also been used as a location for films including Patriot Games and 101 Dalmatians.


Share this article



Latest Businesses for Sale

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

 
17
 
Sep
 

Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE

Impact REIT has successfully acquired Cardinal Healthcare, a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
29
 
Jan
 

Glasgow's former Dunnes Store building up for sale | COMMERCIAL PROPERTY

The former home of the Dunnes Store in Glasgow city centre i...

 
13
 
May
 

London's St Katharine Docks on the slate | COMMERCIAL PROPERTY

Central London’s only marina, St Katharine Docks, is u...

 
25
 
Nov
 

ExxonMobil Leatherhead campus up for sale for £51m | COMMERCIAL PROPERTY

Global oil and gas firm ExxonMobil is to put its headquarter...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources