The Reuben brothers have completed their £300m purchase of Burlington Arcade from Thor Equities and Meyer Bergman.
The historic arcade has previously been put under offer by Pastor Real Estate, but the deal did not progress. The property had also been unsuccessfully marketed at £400m and £350m.
Meyer Bergman and Thor bought Burlington Arcade in 2010 and have since carried out a major Jamie Forbert-designed refurbishment.
The 37,000 sq ft precinct, which opened in 1819, is home to tenants including lingerie label Erees, watchmaker Bell & Ross, milliner Maison Michael, knit label Barrie, Ladurée, Vilebrequin, Harrys of London, Lulu Guinness, Manolo Blahnik, Frederic Malle, La Perla and Atkinsons.
Joseph Sitt, chief executive of Thor, said: “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.”
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