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

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

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