|
 
BURLINGTON ARCADE
One of the nicest retail properties in
the Western world. My N. Peal cashmere sweaters are from here....sigh....
The website for the property is: http://www.burlington-arcade.co.uk/
This would be beautiful trophy in somone's porfolio?!
Prudential has put Burlington Arcade up
for sale with a euro 80.8-million ($103.4-million) asking price.
The arcade is the UK’s oldest and one
of London’s most exclusive shopping locations. The arcade was opened in
1819 and is patrolled by liveried Beadles, the world’s smallest private
police force. It comprises 47 shops units, including Crockett & Jones,
the luxury shoe shop, and Rose Fine Jewels, retailer of antique and period
jewelry. The top rents at the arcade are euro 505 ($647) per sf for “Zone
A” shop frontage space, below the euro 721 ($923) per sf on nearby Bond
Street.
The property has been in Prudential's
ownership for 53 years, but now the fund is reviewing its euro 18.04-billion
($23.09-billion) property portfolio. The group says the centre did not match
its preferred mix of commercial, shopping and industrial assets. Prudential
plans to capitalize on unprecedented demand for property from private
investors, institutions and property companies, which are expected to reach
record levels this year. - Globe
St. com 3 Nov 2004
|
