London’s Bond Street Most Expensive Shopping Street in Europe, According to Report out By Colliers International.
London, December 10 2012. According to the latest research from Colliers International EMEA’s luxury shopping addresses continue to demand the highest retail rents in the region.
Renting a shop on London’s Bond Street for instance sets the retailer back £917 per sq m. For a typical 150 sq m designer boutique this amounts to some £1.65 million per annum or around 825 Mulberry Bayswater pony print calf hair handbags (about eight pallets with room to spare in a 20’ shipping container). This is followed by the Champs Elysees in Paris which will set a retailer back around 610 bags; though the retailer’s money will go a little further in Zurich, where they can expect to pay the equivalent of 478 high-end bags.
Despite weak economic conditions, even in Switzerland, there seems to be no end of ‘shopping tourists’ intent on converting cash into high end luxury goods.
Sean Briggs, Colliers International’s EMEA Retail Agency Director, commented: “Even though there is a gloomy economic outlook the luxury sector continues to buck the trend and trade well; with many new stores opening across EMEA in the high-end destinations, despite high-end rents. While the main luxury markets of Moscow and London remained the favourite destinations of top brands, other locations in Western and Eastern Europe, as well as in the Middle East, are also attracting the attention of the luxury sector.”