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Historic London ‘shopping mall’ hits the market for $500M

The building opened almost 200 years ago and remains a top attraction for luxury shoppers

historic shopping street in the U.K. Andrew Dunn/Wikipedia

Are you looking to do something different in 2017? How about buying a 37,000-square-foot shopping street in the heart of London?

Designed by architect Samuel Ware and completed in 1819, the historic Burlington Arcade is a sort of proto shopping mall built for top-hatted toffs to buy jewelry and “fancy articles of fashionable demand.” The arcade’s then-unique design inspired copycat structures across Europe.

Still, nearly two centuries after it opened, the glass-covered shopping street is still the longest covered shopping street in the U.K., bustling with more than three million shoppers a year visiting stores like Chanel and Rolex.

Currently owned by real estate investment company Meyer Bergman and Thor Equities, the entire thing is now up for sale for a cool £400 million ($499 million).

Artist Thomas Hosmer Shepherd’s depiction of the Burlington Arcade in the late 1820s.
Wikipedia

Via: The Spaces