globe retail outlook data

 

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Retail By City

London - CentralUnited Kingdom

city rank #1

City Overview

London is one of the world’s leading retail destinations. The scale and diversity of its retail offering ensures that its catchment is truly international. Oxford Circus would be considered the epicentre of London’s retailing. Oxford Street, which runs west to east across the heart of London, is undoubtedly the benchmark of UK retailing. Branching out from Oxford Street is a network of retail locations, each with its own identity, attributes and consumer appeal. Regent Street is a showcase of international flagship brands. Bond Street and Sloane Street remain the most sought-after locations for luxury brands, where rents have continued to rise. Regent Street meets Piccadilly Circus at its southern end, which in turn leads to Leicester Square and the fringes of Covent Garden. Youth culture and “fashion forward” brands dominate Covent Garden. Distributed around London are also pockets of neighbourhood retailing, including Soho/Carnaby Street for young fashion and premium brands on Marylebone High Street. Other important submarkets include Mount Street for luxury goods and restaurants. To the west there is Knightsbridge, home to Harrods and Harvey Nichols department stores; Sloane Street, home to luxury fashion; and King’s Road which is a mainstream fashion destination. These areas draw heavily on tourists but also the local, affluent population. To the east is the Central Business District; the City of London which now has its own shopping centre, One New Change. On the edge of the city lies Spitalfields and Shoreditch, unique and popular weekend destinations for the edgy unique brands and concepts. Canary Wharf retail continues to expand with the Jubilee Line extension and future Crossrail station. The regeneration of Kings Cross is drawing visitors with its eclectic mix of retail and restaurants. Developments in the pipeline include the regeneration of Battersea Power Station and the continual redevelopment of Oxford Street East and Tottenham Court Road. There are few shopping centres of note in central London but the opening of Westfield London is an exception. It has successfully combined mid-market and luxury retailing in an exceptional environment close to the wealthy neighbourhoods of Notting Hill and Westbourne Grove. The scheme has completed a 720,000 sq ft extension to the centre and is anchored by a 230,000 sq ft John Lewis store. The 1.9 million sq ft Westfield Stratford shopping centre opened in 2011, benefiting from excellent transport links (20 minutes from central London), and a full range of UK and international retailers.

Things to do

See

Work

Selfridges, Marylebone High Street and Regent Street


Rest

Natural History Museum, Tate Modern, Portobello Road Market, Camden Market, Shoreditch, Spitalfields Market


And be seen

Eat

Palomar Fischer's Burger Lobster,  Beast


Drink

Ham Yard Hotel, Chiltern Firehouse


Be Merry

City Social Q Grill


Other Cities in United Kingdom

Contact Us

STEVEN STEDMAN
Henrietta House
Henrietta Place
+44 20 7182 2712 | steven.stedman@cbre.com