LONDON – Global law firm, Reed Smith has advised the Reuben Brothers on the £300 million acquisition of Burlington Arcade London, from Thor Equities and Meyer Bergman.

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Opened in Mayfair in 1819, the arcade constitutes approximately 37,000 square feet of retail space and a combined frontage of more than 1,100 feet.

New York property group Thor Equities and European private equity firm Meyer Bergman bought the site in 2010 for £104 million and have today sold it for close to a 200% increase after having upgraded the luxury retail unit which now features stone floors sourced from English quarries, as well as restored details including the building’s upper arches.