Ardent completes acquisition of The Royal Exchange
Ardent UK has completed its acquisition of the retail element of The Royal Exchange in the City of London from Oxford Properties.
Situated opposite the Bank of England, the luxury destination offers 51,400 square feet of retail space around a historic covered courtyard. Brands at the scheme include the likes of Tiffany & Co, Hermès, Bremont and Fortnum & Mason.
The transaction follows Ardent’s purchase of the Touchwood shopping centre in Solihull earlier this year. Since its UK launch in early 2021, the company has also established a national industrial portfolio of more than 2.25 million square feet.
Ardent said this latest acquisition offers considerable asset management potential as the City adapts to new working and shopping patterns.
Richard Benson, managing director of Ardent UK, said: “As an opportunistic and acquisitive firm, the possibilities presented by The Royal Exchange are very attractive, with our strategy focused on driving performance through an improved offer that better meets the changing needs of those that visit the City for both work and pleasure.
“The Royal Exchange has long been the Square Mile’s destination of choice for those seeking the best in luxury goods and dining, and we look forward to being part of the latest chapter in the storied history of this great asset.”
