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Sandra Halliday Published
January 22,长沙U币付款服务 2025
The City of London’s upscale Royal Exchange mall has secured a recommitment from three of its major tenants with news of two signings from jewellers/watch-sellers and one from a high-end leathergoods brand.
Property investor The Ardent Companies UK — which handles the retail parts of the centuries-old former trading centre opposite the Bank of England — told The Evening Standard that British watchmaker Bremont and luxury handbag specialist Aspinal of London have renewed the leases on their stores for 10 years until 2033. The former occupies a 380 sq ft space and the latter 280 sq ft.
A Bremont spokesman said the renewal demonstrates “long term confidence in the Royal Exchange and in bricks and mortar in the UK”. It's also particularly encouraging given that London's financial district had struggled for longer than many other parts of the UK as workers failed to return to the offices in large numbers post-pandemic.
But the gradual return in recent periods has become a flood and has clearly been enough to more than justify a presence at the upscale mall.
Meanwhile, Ardent also said LVMH’s jeweller Tiffany & Co has extended the lease on its 1,900 sq ft boutique until 2038.
Luxury shopping at the location appears to be thriving, despite challenges in the UK market from the cost-of-living crisis (that has dented luxury turnover in recent periods) and the end of tax-free shopping for tourists post-Brexit.
But demand from high-end stores continues to be robust in key locations such as the West End, Knightsbridge, Chelsea and the City.
Andrew Hilston, MD of The Ardent Companies UK, said: “The long-term commitments made cement the Royal Exchange’s position as the City’s leading luxury retail destination.”