Skip to main content Skip to footer

Retailers still flocking to London with over 840 new requirements so far this year

111121retailersflockinghero
A Central London location is still high on retailers’ wish lists, according to Colliers’ London Retail and Restaurants team who registered 840 new requirements for the market between January and September, equating to 4.8 million sq ft of space. 

Of this new demand the highest demand came from food and beverage (324 requirements) followed by fashion shops and grocery, says the international property adviser. Throughout the year demand for space has been consistent, with Q1 seeing 349 new requirements and Q2 and Q3 recording 269 and 222 respectively. March saw a peak in demand with 137 new requirements coming through.

Paul Souber, Co-Head of UK & EMEA Retail at Colliers, comments: “Despite what many would have thought in January, this year continues to surprise the market and demonstrate the resilience of London retail. However, despite the pandemic, the pull of London as a global destination remains.”  

Occupier demand for London property is not just from established names: of the requirements 144 were from new entrants looking for space. The overwhelming majority of interest has come from the UK, followed by the US (17), Italy (9) and France (8). There has also been interest from Australian, Middle Eastern and German brands. Since January, openings from notable overseas brands include Mango, Onitsuka Tiger, Hugo Boss, Canali and Moose Knuckles. 

Paul continued: “The fact that there has been significant interest from such a diverse range of geographies is testament to how important a London presence is for brands. 

“We are seeing a real shift change in how the store is understood and this is having a particularly noticeable effect in the capital. Retailers are moving away from seeing the store as a purely transactional presence, instead understanding the brand-enhancing value of having a physical showroom or even experience-led offering at a prominent location such as Oxford Street or Covent Garden. This has certainly helped London retain its allure and will only help strengthen its position as we move forward from the pandemic.” 

View our London Retail Services


Related Experts

Paul Souber

Co- Head UK & EMEA Retail

Retail Agency - Central London

London - West End

Paul Souber is a highly experienced London retail property expert, and has a particular specialism in the luxury sector.

He advises major London landlords – including The Crown Estate, Grosvenor, The Church Commissioners and Shaftesbury Plc – on how their retail holdings in the capital can be enhanced through leasing and placemaking.

His consultancy also involves advising various leading brands on their property strategy and sourcing the stores which best serve their strategic needs.

During a career in which he has advised on the leasing of more than 1.5m sq. ft. of shopping space, Paul has worked with clients including Yves St Laurent, Roksanda Ilincic, Gina Shoes, Balenciaga, Oliver Bonas, Boux Avenue, Sweaty Betty and Headmasters.

He is Head of London Retail Agency and Co Head of the EMEA Retail Team at Colliers International

View expert

Rebecca Allen

PR Manager

Marketing & Communications

London - West End

I have been working in commercial property communications for almost 10 years  having previously worked at CBRE and most recently Savills.

In my role at Colliers I am responsible for the PR of national capital markets, London agency and capital markets teams and investment property management.

My role includes:

  • Creating and exectuing PR plans for business lines that span press, marketing and digital channels
  • Media monitoring and reporting
  • Journalist relationship building through face to face meetings, phone calls day to day assistance with stories
  • Reputation management of the Colliers brand

 

 

View expert