The retail arm of London's historic Royal Exchange has been put up for sale, just four years after its last acquisition. US owner The Ardent Companies has appointed agents to market the nearly 51,000 sq ft high-end retail and dining space, which spans the lower ground, ground floor, mezzanine and terraces around a covered courtyard.
Ardent purchased the property, the only luxury shopping centre in the City of London, for close to £50 million from Oxford Properties in 2022. The space houses luxury brands including Hermes, Tiffany & Co, Boodles, Montblanc, Omega and Georg Jensen.
The Royal Exchange dates back to 1571 and has been destroyed twice by fire, including the Great Fire of London in 1666. The current building was opened by Queen Victoria in 1844. It is traditionally used for royal proclamations in the City of London, such as the announcement of the death of a monarch and the crowning of a new one, including that of King Charles III in 2022.
Under Ardent's ownership, visitor numbers increased by 12% last year, and the floor space is now 99% occupied by retail, restaurants and bars. Recent additions include Fortnum's Bar and Restaurant, which opened a new terrace, and Engle, a bar by renowned restaurateur Des Gunewardena, at the front of the building in spring 2024.
