London’s Burlington Arcade, home to 12 jewellery and seven watch stores has been put up for sale for around £400m.
The luxury arcade which pulls more than four million visitors a year, links Bond Street and Piccadilly and is expected to attract investors from the Middle East and Asia.
Jewellery stores include: Michael Rose, Carat London, Johnson Walker, Tessier, Milleperle, Hancocks, Almar, Susannah Lovis, Plukka, Richard Ogden, Ciro and Chanel.
Watch stores include: Bell & Ross, Maison Michael, The Vintage Rolex Watch Company, Ladurée, David Duggan, Armour Winston and Somlo Antiques.
Phil Cann, head of UK retail at CBRE who is marketing the property, told City AM: “Burlington Arcade is known worldwide and we expect the sale to attract strong interest from investors in the UK and around the globe.
“Our clients have been great custodians of this highly sought after retail destination over the past six years and this sale presents an extremely rare opportunity to acquire a unique part of London’s heritage.”
It is thought that the weakening pound since Brexit has made premium retail sites in London very attractive to foreign visitors looking to buy luxury goods at a discounted price.