{"id":42211,"date":"2017-01-29T22:58:56","date_gmt":"2017-01-29T15:58:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=42211"},"modified":"2017-01-29T20:09:39","modified_gmt":"2017-01-29T13:09:39","slug":"cbre-seeks-middle-east-buyer-for-prime-london-shopping-centre","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cbre-seeks-middle-east-buyer-for-prime-london-shopping-centre\/","title":{"rendered":"CBRE seeks Middle East buyer for prime London shopping centre"},"content":{"rendered":"


\nA team from CBRE’s investment arm paid a visit to the UAE and Qatar last week in a bid to drum up interest from potential buyers in a luxury London shopping arcade.CBRE has been appointed by New York-based property development firm Thor Equities and by European investment fund Meyer Bergman to sell Burlington Arcade, which runs between Piccadilly and Bond Street, next to the Royal Academy. The centre, which is built on a half-acre site, contains 37,000 square feet of retail space and has the longest covered shopping street in the UK.Its stores sell mainly luxury brands and its current owners, who bought the property in 2010, have overseen a redesign led by British architect Jamie Fobert that involved restoring original details.It is understood to be on the market for \u00c2\u00a3400 million (Dh1.84 billion).Phil Cann, the head of UK retail at CBRE, expects the centre’s sale to be one of the biggest to complete in the London retail market this year. He said the value of deals transacted in the London retail sector last year was \u00c2\u00a32.3bn, which was lower than the \u00c2\u00a33bn experienced during an “exceptional” 2015, but in line with long-term trends.He said that Brexit has been more favourable for London’s retail property market than for other sectors, thanks to higher spending by tourists.”Customers are coming to the shops and buying goods in flagship London stores that were 20 per cent more expensive the year before,” he said.He added that a property such as Burlington Arcade would have “global appeal” because it is a freehold property, a heritage building and it specialises in luxury retail.”Certainly in the region there has always been interest in the asset,” he said.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…CBRE seeks Middle East buyer for prime London shopping centre<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A team from CBRE’s investment arm paid a visit to the UAE and Qatar last...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-42211","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aYP","jetpack-related-posts":[{"id":36696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-flats-in-brutalist-style-on-oxford-street\/","url_meta":{"origin":42211,"position":0},"title":"Luxury flats in brutalist style on Oxford Street","date":"December 1, 2016","format":false,"excerpt":"\r The skyscraper that became a byword for London's housing crisis in the 1970s is now being marketed to the super rich in the UAE as exclusive residences. Centre Point, a 33-storey tower at the east end of London's Oxford Street, became a symbol of homelessness after property tycoon Harry\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30725,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-165m-shopping-centre-to-open-in-leeds\/","url_meta":{"origin":42211,"position":1},"title":"Luxury \u00a3165m shopping centre to open in Leeds","date":"October 19, 2016","format":false,"excerpt":"\r Victoria Gate project, with John Lewis as a tenant, targets high-end spending\r \r Source : ft.com\r Read more...Luxury \u00a3165m shopping centre to open in Leeds","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106670,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-shopping-centre-investment-hits-16-year-low\/","url_meta":{"origin":42211,"position":2},"title":"UK shopping centre investment hits 16-year low","date":"April 29, 2019","format":false,"excerpt":"\r Buyers struggle to assign values to properties affected by retailers restructuring leases\r \r Source : ft.com\r Read more...UK shopping centre investment hits 16-year low","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112775,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/osyter-to-take-60-stake-in-tauranga-crossing-shopping-centre\/","url_meta":{"origin":42211,"position":3},"title":"Osyter to take 60% stake in Tauranga Crossing Shopping Centre","date":"November 30, 2019","format":false,"excerpt":"\r Oyster's strategic acquisition of Tauranga Crossing Shopping Centre provides new investment opportunityTauranga Crossing, the newest and largest shopping centre in the Bay of Plenty region, provides wholesale investors with a rare...\r \r Source : nzherald.co.nz\/Property\r Read more...Osyter to take 60% stake in Tauranga Crossing Shopping Centre","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33492,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/longfor-on-the-hunt-for-out-of-town-shopping-centre-sites-but-chief-executive-rules-out-foreign-investment\/","url_meta":{"origin":42211,"position":4},"title":"Longfor on the hunt for out-of-town shopping centre sites, but chief executive rules out foreign investment","date":"November 8, 2016","format":false,"excerpt":"\r Real estate veteran Shao Mingxiao has remained as low key as his boss Wu Yajun, the founder and chairman of Longfor Properties, and once China\u2019s richest woman. Joining Longfor in 2006, Shao was very much Wu\u2019s right-hand man, and was appointed chief executive officer in 2011 when she stepped\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58158,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pmg-buys-kelston-shopping-centre\/","url_meta":{"origin":42211,"position":5},"title":"PMG buys Kelston Shopping Centre","date":"June 17, 2017","format":false,"excerpt":"\r Property Managers Group (PMG) has purchased Kelston Shopping Centre in West Auckland - the company's largest single acquisition in 25 years.PMG purchased the asset on behalf of one of its diversified investment funds, Pacific Property...\r \r Source : nzherald.co.nz\/Property\r Read more...PMG buys Kelston Shopping Centre","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42211"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=42211"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42211\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=42211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=42211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=42211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}