Meyer Bergman and Thor Equities - Cushman & Wakefield

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Meyer Bergman and Thor Equities


Meyer Bergman and Thor Equities Burlington Arcade 2015
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The Challenge

In October 2013 Cushman & Wakefield was instructed by the joint owners Thor Equities and Meyer Bergman to revitalise the tenant mix, attracting new and innovative ‘game changing brands’ whilst also increasing the rental tone. A number of niche agents had been involved prior to our instruction and the identity and credibility of the Burlington Arcade was diminishing.

The Solution

Step 1: Conduct a tenant audit of the arcade to understand which brands traded well to draft a strategy for revitalizing the mix. In addition to understand which brands were underperforming and could be bought out to create opportunities to bring in game changing brands.

Step 2: Identify these ‘game changing ‘ brands which would be appropriate to Arcade, customer profile and in turn bring in more shoppers and aspirational brands. 

Step 3: Let 5 units to Chanel for their emerging brands creating a unique luxury destination

The Results

In the past 18 months we have concluded a number of high profile lettings (11) with a further 5 in solicitors hands whilst acting for the landlord Meyer Bergman and Thor Equities transforming the tenant mix. The rental tone has also escalated from £700za to in excess of £1100za whilst sales and footfall have also increased.

The Arcade is now a top target location for luxury international brands looking for a Mayfair flagship.

Contact

Peter Mace

Head of Central London Retail

London, United Kingdom

Phone +44 20 7152 5039

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