The London retail property market was arguably the hardest hit in the UK and Ireland by the pandemic. It was deprived of millions of tourists and office workers whose spending power drives revenues across the capital’s shopping pitches.
However, restructuring of the market – and primarily the rebasing of rents – has prompted interest from a new tranche of occupiers in both the retail and food and beverage (F&B) sectors. This is bringing an infusion of new brands and concepts into London and is one of the few silver linings of what has been an exceptionally difficult 18 months. London remains one of the world’s greatest shopping cities and we believe it will bounce back quicker because of this. In our ‘CRE - Our industry today, tomorrow & beyond’ report I assess the UK capital’s prospects, and what these mean for the sector as a whole.
