Store rents in London

  1. fashion.psfk : London is Expensive- it's Official!

    London is Expensive- it's Official!

    Amanda Gore in London, Retail

    Everyone knows it's pricey to have a shop in central London, but do you know just how much the rents really are? And which roads are the most expensive? thanks to real estate firm CB Richard Ellis now we can all be shocked and appalled at the extortionate sums charged to retailers. Hired by WWD to produce a ranking of the top retail streets based on average rent per square foot, their findings are not overly surprising but worth a mention.
    Bond Street of course heads the list with an average rent per square foot of $1,542, followed by Oxford Street (West) at $1,425. Covent Garden averages $1,092, with Regent Street only marginally behind at $1,032. Others on the list include Knightsbridge, Oxford Street (East), Kings Road, Kensington High Street, Carnaby Street and Westbourne Grove. Interestingly the price between the top and bottom of the 10-street list is dramatically different with Westbourne Grove costing a mere $456 per square foot.
    No wonder there are now so few independent retailers in central London, and no surprise then to find several empty properties in and around Bond Street. However, other pockets of London are now flourishing as shopping destinations, with young designers and boutique shops popping up in locations that are easier to get to, less crowded, and often congestion-charge free. Thanks big brands!