The luxury covered shopping arcade in London unites Piccadilly and Bond Street and has been favoured by royalty, celebrities and British society as the home of rare gemstones, vintage watches and bespoke footwear.

Thor Equities and Meyer Bergman have co-owned the space since 2010 and have enhanced the variety of luxury brands in the arcade.

The area has recently been redesigned by British architect Jamie Fobert and now features stone floors sourced from British quarries.

"The Burlington Arcade is a historical and architectural masterpiece, and one of the most renowned retail destinations in the world," said Joseph Sitt, CEO of Thor Equities.

"With its magnificent redesign and new luxury tenants, the property will remain a treasured London destination for generations to come."

Markus Meijer, CEO of Meyer Bergman, added: “We have restored the lustre to this gem of a property and benefited from the anticipated surge in demand of brands from across the globe that are seeking to open stores in London’s luxury shopping quarter of Mayfair.”

CBRE has now launched a global marketing campaign for the property, which is expected to attract interest from the Middle East and the Far East.

Phil Cann, head of UK retail at CBRE, said the Burlington Arcade was known worldwide and it expected the sale to attract strong interest from investors in the UK and around the globe.

“Our clients have been great custodians of this highly sought-after retail destination over the past six years and this sale presents an extremely rare opportunity to acquire a unique part of London's heritage.

“Furthermore, the weakening of the pound and favourable exchange rates fuelling tourist spending means prime London retail is a very attractive prospect to foreign buyers.

“London remains the number one gateway city to Europe for retailers and investors alike, and this is set to continue.”