Research from real estate advisor, Colliers International, reveals that in the face economic uncertainty due to Brexit, Central London still remains a prime destination for international brands.
Colliers found over 50% of stores on core shopping streets are international brands and 30 new retailers have arrived in the last year alone.
The research also found that during 2017, there were eight new openings on Regent Street, seven of which were international brands.
Molton Street has also become the go-to location for international brands to launch their UK store, such as Spanish fashion retailer T.ba, French women’s fashion IKKS and French pureplay fashion retail Sezane. These will soon be joined by the major French lingerie brand Empreinte.
Additionally Sloane Street is the location for international jewellers with prestigious French and Italian fashion and jewellery brands representing two thirds of what the street has to offer.
Mark Charlton, head of UK research and forecasting at Colliers International added: “It’s indicative of the strength of occupier demand in the Central London retail property market that shop rents rose, on average, by 3% during 2017 – despite continued uncertainty and lower levels of consumer spending.
“The hyper rental growth of the past three years is now at an end, and the level of vacant shops has gone above two per cent for the first time since 2010 – but this is still a void rate which is the envy of most shopping environments.
“The macro challenges which have impacted all great global shopping cities will remain in 2018, but will also contribute to exciting change.
“2018 will be a milestone year for London’s shopping scene, with the opening of the Elizabeth Line and part pedestrianisation of Oxford Street, easing congestion and providing improved access to many of the capital’s shopping destinations.”