Spotlight Central London Retail Outlook Q3 2013 | Savills
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)
