Dickinson Gleeson has advised the Reuben Brothers on the Jersey aspects of their £300 million acquisition of the Burlington Arcade, in Mayfair. Burlington Arcade was opened in 1819, making it one of London’s earliest arcades, and constitutes approximately 37,000 square feet of high-end retail space. The arcade is visited by some four million people a year and is owned by a Jersey company.
Simon and David Reuben are leaders in private equity, real estate investment and development, and venture capital. Their real estate holdings are significant in scale and broadly diversified, encompassing office, retail, hotel, residential and infrastructure properties across the world including in London, Israel, Monaco, Ibiza and France.
The Dickinson Gleeson team comprised Edward Scott (Partner) and John Burns (Associate) and the team worked alongside the Real Estate and Corporate teams at Reed Smith. Bryan Cave Leighton Paisner LLP and Carey Olsen advised the sellers, Thor Equities and Meyer Bergman.
Edward Scott commented:
“We are thrilled to have helped the Reuben Brothers to make this landmark acquisition. The timetable was challenging and demanded that due diligence on the Jersey target company was conducted quickly. With our partner-led approach, which is distinctive in Jersey, we were able to deliver efficiently and to time.”