One of the worst kept secrets of 2016…
The whispers were not so hushed, the new tenants on short-term leases with big rents and the departure of famed brands, were clear signs.
With Burlington Arcade being run by a fund, and not a landlord with a interest other than monetary returns, this is a sad story.
An arcade, steeped in history, a Mayfair treasure with thousands of visitors a week has, some might suggest had the heart ripped from it.
When walking through now, something is missing, perhaps the dark empty units are overshadowing the bright lights of nearby Chanel units.
Ok, so one must not overlook the improvements made during its ownership, namely the flooring.
Thor Equities/Meyer Bergman bought the arcade for £104m in 2010
Industry sources say that the arcade will now sell for around £400m
Watch this space….
Image courtesy Mayfair Curated