IBRC Assurance is bringing the Royal Exchange in the City of London to the market to capitalise on investor demand for luxury retail in the capital. The Royal Exchange, which is let to retailers including Tiffany & Co, Hermès and Montblanc, is likely to fetch up to £80m.
The Grade-I listed building has attracted a series of new tenants recently including Links of London and Watchfinder & Co. The proposed sale comes as a series of deals reveals the strength of the luxury retail market in London.
They include the sale of Italian designer Canali’s 126-127 New Bond Street flagship to a Chinese investor for £45m, a 2.2% yield, and ? to a Far Eastern investor for £19.2m, a 1.4% yield. CBRE is advising.
annabel.dixon@estatesgazette.com
