London’s oldest shopping center needs you
Some 12 stores are currently empty in London’s Regency-period Burlington Arcade, which stretches between Piccadilly and Bond Street and is right next to the Royal Academy.
Built in 1918, Burlington Arcade is London’s oldest shopping center and is owned by billionaire brothers Reuben, who bought it for £ 300million in 2018. Now it is targeting art galleries as future tenants to fill the gaps. 12 empty units. They would join a mix of luxury goods suppliers including jewelers, high-end shoes and fashion retailers.
Spearheading gallery research is David Rosen of Agents Pilcher London, who is also responsible for marketing the Cork Street art spaces. Each Burlington Arcade unit offers approximately 1,000 square feet of space spread over four floors, about half of which is located on the ground floor. Rosen does not want to reveal the prices, saying it will depend on the length of the lease and the size of the units, but the rates are “in line with the market”; he stresses that he is “flexible” in the negotiations. However, another agent offers two units, one of which, measuring 940 square feet, is advertised at a rent of £ 100,000 (plus just over £ 113,000 in business rates) per year.
“I’m looking for the right mix of good independent art galleries,” Rosen said. The arts journal, stressing that each unit is “a stand-alone jewel building” in a prestigious location.
One tenant who has already taken up two stores is Saatchi Yates, whose large main gallery is just across the street on Cork Street.