SUMMARY
- Retailer demand remains robust in the prime pitch, however, we have also seen ferocious rental bidding activity in some of the new emerging pitches in Mayfair.
- Prime Zone A rents grew by an average of 3.1% over Q3.
- Occupier demand for Bond and Regent streets remain strong suggesting prime rents will continue to see marked growth over the short-medium term.
- 'True' vacancy across Oxford, Regent and Bond streets averages 0.7%. Bond and Regent streets have zero vacancy.
- Investment volumes to date total £1.8bn, already exceeding 2012 levels. End year volumes are expected to be in line with the £2.3bn seen in 2011.
- Overseas investors have dominated activity this year driven by increased spending by Asian investors.
- We expect to see improved returns across the retail quality and geographical spectrum in Central London into 2014.
(This article features excerpts from the full report – please download it here)
