London's retail revival continues with investment volume rise: CBRE

CBRE’s data shows that central London retail investment volumes increased by 71 per cent quarter on quarter (QoQ), totalling £424 million ($548.8 million) in Q2 2024.

Bond Street continues to draw high volumes of capital, with four transactions completing on the street in the quarter. Together, these deals account for almost three-fifths of total London retail investment volumes for H1 2024.

Retailer activity levels on the iconic Oxford Street also continue to gain momentum, with brands relocating on the street committing to larger stores, a CBRE release said.

CBRE’s data shows that all retailers that have moved store on the street since the start of 2023 have upsized, typifying the return of physical store commitments. On an average, brands have upsized by 195 per cent, which equates to an additional 8,751 sq ft of floorspace.

There has been a flurry of lettings on Oxford Street, with 19 transactions having completed in 2024 so far, totalling 170,000 sq ft.

Since the start of 2023, there have been 30 new entrants to the street and six new brands, including Future Stores, Manière de Voir, Activate and Paris St Germain, to the UK market altogether.

Retailer activity is further supported by robust footfall levels. West End footfall grew year on year (YoY) in all months throughout the quarter, peaking in June, which was up by 2.8 per cent YoY.

Fibre2Fashion News Desk (DS)