The Royal Exchange, the City of London’s leading luxury destination, has further strengthened its premium brand offer with the arrival of bespoke jeweller Searle & Co. The opening represents a revival of the Searle & Co brand – under a separate operator that shares the name – that previously traded at the scheme for 125 years.
Searle & Co has taken the 519 sq ft unit 1, which is an external-facing store looking out onto Cornhill, on a new 10-year lease. The boutique was home to the previous incarnation of Searle & Co since 1896, prior to its closure in 2021; the current brand, an independent operator with the same name, is opening in the very same store, which incorporates historic, listed fixtures and fittings.
The arrival of Searle & Co further strengthens a luxury retail line-up that is the best in the City of London, with other brands at The Royal Exchange include Tiffany & Co., Bremont, Omega, Montblanc and Hermès. The addition of new dining options – including Engel and Jang from Des Gunewardena, the Fortnum & Mason bar and restaurant, and The Libertine – have cemented its position as the Square Mile’s foremost luxury shopping and socialising destination.
The success of the growing and varied offer at The Royal Exchange can be seen in its visitor numbers: 2024 as a whole saw footfall 20% up on 2023, with December visitors some 36% higher than during the same month in the previous year. The Royal Exchange reached 96% occupancy during the year.
In parallel, The City of London is undergoing a wider resurgence as a luxury retail and social destination, with The Royal Exchange playing a key role in the revival. Growing jobs – workers in the Square Mile surged more than 25% between since 2019 – and increased visitor numbers are underpinning strong demand from brands, bars and restaurants, while the creation of a new public realm is showing the historic building at its best. TfL data shows daily exits at Bank station, adjacent to The Royal Exchange, are at a five-year high of around 335,000 people.
Andrew Hilston, managing director of The Ardent Companies UK, said: “It is fantastic to see a historic jewellery brand such as Searle & Co return to The Royal Exchange, and highlights its position as the City of London’s leading luxury scheme. Alongside the new dining operators we have brought in, The Royal Exchange is the Square Mile’s destination of choice for premium shopping, eating and socialising.”
The retail element of The Royal Exchange was acquired by US-based real estate investment and asset management firm The Ardent Companies in October 2022. Since the acquisition, The Ardent Companies UK, together with specialist asset manager Pave, has implemented a new leasing strategy and refreshed the advisory team, with experienced City agents at Bruce Gillingham Pollard and Savills appointed to rejuvenate the tenant mix.
