The Royal Exchange mall in the heart of the City of London is experiencing a positive boost as key luxury tenants show their commitment through long-term lease renewals. British watchmaker Bremont and luxury handbag specialist Aspinal of London have both signed 10-year leases until 2033, emphasizing their enduring confidence in the Royal Exchange. This move comes as a significant endorsement of the mall’s appeal, especially considering the challenges faced by London’s financial district during the prolonged remote-working phase post-pandemic.
In addition to Bremont and Aspinal of London, LVMH’s renowned jeweler Tiffany & Co has extended its lease on a sizable 1,900 sq ft boutique until 2038. These renewals highlight the resilience and desirability of the Royal Exchange as a premier luxury retail destination, even in the face of economic uncertainties, the end of tax-free shopping for tourists post-Brexit, and the broader impact of the cost-of-living crisis in the UK.
Andrew Hilston, Managing Director of The Ardent Companies UK, which manages the retail aspects of the historic Royal Exchange, expressed confidence in the mall’s continued status as the City’s leading luxury retail destination. The robust demand from high-end stores and the long-term commitments from these luxury tenants further solidify the Royal Exchange’s position in London’s competitive luxury retail landscape.
