Search
 

Tiffany Deal Underpins Bond Street Values

LONDON-International jeweler Tiffany & Co has bought the freehold of its Bond Street flagship store from clients of StratReal for Pounds 27.4 million ($43 million). The deal underlines the escalation in Bond Street values over recent years.

By Graham Parker | Updated on October 14, 2002

LONDON-Tiffany & Co, the New-York-based jeweler, has bought the freehold of its flagship European store at 25/25a Old Bond Street and 15 Albermarle Street, London W1. It bought the property from a client of Strategic Real Estate Advisors for £27.4 million ($43 million). The vendor is understood to have paid £20 million ($31 million) for the 15,200-sf building only two years ago.

The purchase of the property means Tiffany can implement plans to refurbish and extend the store, which opened in 1986 and was first extended in 1991. Construction is expected to begin in early 2003 with completion due in the second half of 2004. Last year Tiffany opened its first City store in the refurbished Royal Exchange and also trades in London from a concession in Harrods department store.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.