CBRE has been appointed to advise on the sale of the Royal Exchange, a landmark property in the City of London.
CBRE has been appointed to advise on the sale of the Royal Exchange, a landmark property in the City of London.
IBRC Assurance Company is selling its long leasehold in the Royal Exchange and looking for offers in excess of £75 mln (€90 mln), reflecting a net initial yield of 4.90%.
The luxury shopping and dining destination in the heart of the City of London is home to many luxury brands including Tiffany & Co, Hermès and Montblanc. Recent newcomers to the tenant mix include the British jeweller, Links of London, as well as new entrant to the UK market Watchfinder & Co, which opened its first UK flagship store earlier this year.
Phil Cann, head of UK retail at CBRE, commented: 'Opportunities to purchase such an iconic building like the Royal Exchange don't come along very often.'