Retail Property London Guide

The vibrant city of London is the dream for both shopper and retailer. With a population of approximately 9.5 million, over 30million overseas visitors each year, and a world-renowned transport infrastructure, there are limitless opportunities to indulge in London’s thriving retail scene.

Top retail shopping districts

West End

London’s West End is the world’s major retail hub. Encompassing renowned addresses such as Oxford Street, Bond Street and Regent Street, the West End is considered a top shopping destination which over 200 million visit each year. Shops to let in this area range in price from £134,000 to £1.2million per annum.

Oxford Street, which stretches over 1.5 miles and features over 300 shops, designer outlets and high-street chains is the epicentre of London’s retail scene. Oxford Street has London’s highest footfall, with over 500,000 pedestrians walking it every day, whilst four of London’s main underground lines provide excellent access. Amongst the great variety of shops some of the most notable tenants include Zara and Uniqlo’s flagship stores, Niketown, Primark and Gap. Selfridges is Oxford Street’s landmark department store, which thrives alongside Debenhams, John Lewis and Marks and Spencer.

Regent Street, aptly nicknamed ‘The Mile of Style’ runs perpendicular to Oxford Street, within convenient walking distance of Oxford Circus and Piccadilly Circus Tube Stations. The globally-renowned Georgian architecture of Regent Street in addition to its abundance of iconic retailers offers shoppers a unique and memorable experience. Regent Street’s 1.5million square feet of retail space, which is home to flagship stores of internationally popular brands including Ralph Lauren, Hugo Boss, Burberry and Tommy Hilfiger attracts over 7.5 million visitors annually. Alongside these retailers is Hamleys, the oldest toy shop in the world, and reputable department store Liberty in which shoppers can indulge in an eclectic mix of luxuries.

Bond Street, celebrated for its designer fashion brands, elegant jewellery shops and exclusive stores has been at the heart of London retail since the 18th century. On Bond Street 95.6% of all ground floors are occupied by retail brands, including Asprey, Cartier, Chanel, Hermès, Tiffany Co. and Mulberry. Old Bond Street is home to London’s oldest purpose-built shopping arcade, The Royal Arcade, which continues its reputation for luxury retail via offering a mix of independent stores and internationally-renowned labels. Fenwicks, another of the city’s oldest institutions is situated at the heart of Bond Street where shoppers can enjoy a taste of traditional British glamour.

A short walk from Oxford Street lies Carnaby, famous for providing shoppers with concept stores, unique and independent retailers as well as heritage names. Across the 14 streets that comprise Carnaby brands such as Barbour, Sweaty Betty, Paul Smith and The Kooples can be explored.

Covent Garden

Covent Garden has flourished into one of London’s favourite shopping destinations, attracting over 44 million visitors every year. Covent Garden is home to an abundance of rising independent retailers alongside global brands. Designer names including Chanel, Dior and Burberry can be found alongside London’s largest Apple store, DECIEM and Charlotte Tilbury. The Covent Garden & Strand Business Partnership offers members the chance to help reduce shoplifting, theft, alcohol-related disorder and other anti-social behaviour affecting their business. Local businesses are linked together using a dedicated radio system and intranet site that allows partners in the scheme to share information and images of suspects, submit posts and upload documents, making it a strong ‘Neighbourhood Watch’ area for businesses. The price of shops to let in Covent Garden varies greatly, but averages at approximately £155,000 per annum.

Camden

Although principally known for its markets, Camden has blossomed into one of London’s creative hub and established itself as a home to a number of fashion houses including asos, Whistles and French Connection. With an annual footfall of over 30 million, Camden Market has become London’s fourth most visited tourist attraction due to the variety of bars and eateries, and eclectic mix of shops that sell vintage and original fashion, hand-crafted gifts and unique accessories. Stores to rent in Camden average at £105,000 a year.

Chelsea

Southwest London is home to leafy and upmarket Chelsea: a shopper’s haven. King’s Road, which runs through the heart of Chelsea is a favourite destination amongst shoppers world-wide, and is home to a variety of designer shops, high-street stores and trendy boutiques. Some of the King’s Road’s notable tenants include Anthropologie, Calvin Klein, COS and Designers Guild.

Sloane Square, situated at the intersection of Kings Road and Sloane Street offers a variety of high-end retailers, as well as the landmark shopping department store, Peter Jones. Whilst Sloane Street itself is internationally recognised as one of the world’s most luxurious and exclusive shopping destinations. The catwalk of iconic flagship stores, including those of Saint Laurent, Giorgio Armani, Valentino and Gucci attract a global clientele. Retail units to rent in Chelsea tend to vary in price from £65,000 - £259,000 a year.

Knightsbridge

Knightsbridge is an exclusive neighbourhood in West London and one of two international trade centres in the city. It is home to one of the world’s most famous department stores, Harrod’s, which attracts over 15 million visitors a year to indulge in its 330 departments. The Harvey Nichols flagship store is situated on the corner of Knightsbridge and Sloane Street which offers countless retail favourites, with a focus on fashion. Shops to let in Knightsbridge range between £77,000 - £500,600 per annum.

Westfield London & Stratford

Westfield London, located in Shepherd’s Bush, is spread over 2.6 million square feet and home to 466 retailers. Following its £600m expansion in 2018, wherein over 80 new shops and restaurants were introduced, including John Lewis’ new flagship store, Westfield London’s footfall increased by 9 million, to 37 million per annum. Whilst high-street staples such as H&M, Gap and Office thrive in the main centre, The Village is home to more luxurious retailers such as Prada, Versus Versace and Louis Vuitton.

London’s second Westfield is located in the city’s fastest growing area, Stratford. With a catchment area of 3.3 million people, Westfield Stratford broke British footfall records when over 220 million visitors were recorded within its first five years, and since then has continued to do so, welcoming more than 323 million shoppers and generating sales of over £7.4bn since opening. Westfield Stratford comprises over 250 shops, 80 culinary options and is anchored by John Lewis and Marks & Spencer. The average price of retail units to rent in both Westfields is around the £400,000 a year mark.