The UK's oldest shopping centre, the Royal Exchange in London, has been put on the market for a reported £75 million. This comes just years after it was sold for under £50 million in 2022.
Historic Property Seeks New Ownership
The iconic retail element of the Royal Exchange is being marketed by Ardent Companies UK, a subsidiary of the Atlanta-based asset management firm that purchased the property from Oxford Properties in 2022. The acquisition was part of the company's strategy to enter the retail market.
The Royal Exchange is London's only luxury shopping destination. Spanning 51,400 square feet, the site houses prestigious brands such as Tiffany & Co., Hermès, and Fortnum & Mason. According to The Standard, footfall increased by 12 percent last year, with 99 percent of floor space occupied by retail, restaurants, and bars.
Rich History Dating Back to 1566
The Royal Exchange was established in 1566 by wealthy merchant Sir Thomas Gresham as London's first purpose-built centre for trading stocks. It was modelled on the world's oldest financial exchange, the Bourse in Antwerp. Queen Elizabeth I officially opened the exchange in 1571, granting it a royal title and a licence to sell alcohol.
In 1660, Sir Gresham added two additional floors to the original trading floor, which housed retail businesses and effectively created Britain's first shopping mall. The building has a storied history, including the proclamation of King Edward VII in 1901, surviving World War II despite damage from bombing in 1941 during the Blitz, and its transformation into a luxury shopping and dining destination in 2001.
