Central London retail rents remain under upward pressure, according to Knight Frank’s Central London retail report – Summer 2013.
Darren Yates, partner, Knight Frank Research team, said: “Even after several years of steady growth, Central London retail rents remain under upward pressure, notably in the main thoroughfares of the West End, not to mention a number of emerging locations. Generally, demand for good quality space exceeds supply and recent months have seen numerous new international entrants to the London market, with more expected to open in the coming months. The capital’s restaurant sector is particularly buoyant and continues to see an influx of diverse catering concepts from abroad, as well as expanding domestic operators.”
Ian Barbour, head of retail leasing at Knight Frank, said: “A major feature of the current London market is the amount of refurbishment and redevelopment underway, in large part due to Crossrail, with the large London estates continuing to invest heavily in “place-making” and the creation of new retail, leisure and residential locations. It demonstrates the city’s ability to attract continuous investment and a seemingly endless stream of international retailers.”
Retail Times’ readers can read the report here: Summer report