London, UK

European Retail City Profiles 2016
London, UK
London is one of the most attractive locations for international
retailers globally, with the West End market the epitome of
resilient retailing. The city continues to be a magnet for new
brands thanks to its unique blend of market size, maturity, high
degree of transparency and historic strong sales performance.
The capital benefits from a strong customer base with a
considerable proportion of retail sales driven by national and
international tourists. Over the last few years, many retailers have
regarded London as the entry point to Europe, including J.Crew,
Victoria’s Secret, Nespresso, Club Monaco and Kit and Ace.
High street
London’s core main shopping streets, Oxford Street, Bond Street, Regent
Street and Covent Garden, collectively form the largest concentration of retail
in Europe. Oxford Street is the focus for mass market retailers with department
stores and flagship stores being a key driver for footfall. Bond Street is the
city’s very best luxury pitch; the limited supply of stock has driven rents to grow
to be some of the highest in the world. Rental growth has also been seen on
Oxford Street and Regent Street, where a number of retailers including adidas,
HUGO BOSS, Michael Kors and Kate Spade have relocated to larger units.
30 min drive time
population
Prime rent
(sqm/year)
3.9m
€8,500
Rental growth
outlook
Prime rental information for Oxford Street
Note: Population based on 30 minute drive time study area.
Key indicators
International retailers are increasingly spreading out from the city’s core
streets, in part due to limited supply and high rents, and targeting other
successful established locations like Albermarle Street, Carnaby Street, Dover
Street, Mount Street and Seven Dials as well as new and evolving areas such
as Shoreditch and Hackney. Retailers are attracted because of the strength of
consumer demand, and the eclectic and dynamic nature of these places.
London
Shopping centres
Source: JLL, Michael Bauer Research GmbH 2014, ESRI 2015, Oxford Economics (April 2016)
Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank
Note: Population and Purchasing Power/Capita based on 30 minute drive time study area
London’s two Westfield shopping centres have both become established premier
shopping destinations. Westfield Stratford opened in 2011 next to the Olympic
site, spearheading the regeneration of the area and is now the largest urban
shopping centre in Europe. Westfield London opened in 2008 and is distinguished
by its mix of fashion and luxury retailers in ‘The Village’. The scheme is adding
68,700 sqm of retail space, as well as residential and mixed-use elements. The most notable retail pipeline developments include the transformation of
Battersea Power Station, King’s Cross and Croydon’s retail centre.
Shopping centre Opening year
Westfield Stratford
2011
Westfield London
2008
Bluewater
1999
intu Lakeside
1990
Brent Cross
1976
The Bentall Centre
1992
One New Change
2010
Royal Exchange
2001
Source: JLL 2016
GLA (sqm)
177,000
172,000
167,000
134,000
85,000
62,000
20,000
5,000
Location
Regional Inner City
Regional Inner City
Edge of City
Edge of City
Edge of City
Edge of City
City Centre
City Centre Population (‘000s No.)
Purchasing Power/Capita (€)
GDP Forecast 2016-2020 (% pa)
Retail Sales Forecast 2016-2020 (% pa)
Global CBRA Rank (Out of 140 cities)
3,872
29,026
3.2
3.4
1st
Key retail entrants
Alexander Wang
Arc’teryx
Charlotte Tilbury
kikki.K
3INA
New Balance
Selection of key tenants
Annual visitors
John Lewis, Marks & Spencer, Waitrose, American Eagle, Lindex
45.5m
House of Fraser, Marks & Spencer, Tiffany & Co., Louis Vuitton, KidZania
27.3m
John Lewis, House of Fraser, Marks & Spencer, Jo Malone, Apple
28.1m
House of Fraser, Debenhams, Marks & Spencer, Fenwick, Waitrose
25.0m
John Lewis, Fenwick, Marks & Spencer, Waitrose, Apple
15.0m
Zara, H&M, Apple, COS, & Other Stories, Superdry, Fenwick
14.0m
Topshop, H&M, MANGO, Superdry, Barbecoa
Smythson, Tiffany & Co., Paul Smith, Boodles, Bulgari, Omega
Copyright (c) JLL IP, INC 2016
nd
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HUGO
BOSS PUMA
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Edward
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The Body Shop
Zara
MANGO
Superdry
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Square
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of Wales
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Pa
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to
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Mark Smith
Head of Central London Agency - Retail
+44 207 318 7829
mark.smith2@eu.jll.com
Copyright (c) JLL IP, INC 2016 No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. It is based on material that we believe to be reliable.
Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
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JLL Contacts
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James Dolphin
Lead Director International Retail
+44 20 7852 4623
james.dolphin@eu.jll.com
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Jo Malone
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Prime Rent
Lower
Berkeley
Square
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Burberry
€ 14,200
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€ 3,800
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on Hermès
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MAC
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€ 6,100
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Primark
The Body Shop
€ 6,100
H&M UNIQLO
Zara
Gap
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KIKO
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Oasis
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Fenwick
€ 9,000
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Locker
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Next Massimo
Karen Millen
H a n ov e
Apple
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€ 4,200
Longchamp
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Oxfor
Zara
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Harvey
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Salvatore Ferragamo
€ 3,600
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€ 6,500
Pont
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Museum
Belgrave
Square
Prada
Marks & Spencer
Emporio Armani
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Harrods
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JLL Contacts
James Dolphin
Lead Director International Retail
+44 20 7852 4623
james.dolphin@eu.jll.com
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€ 3,400
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€ 5,800
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Mark Smith
Head of Central London Agency - Retail
+44 207 318 7829
mark.smith2@eu.jll.com
Copyright (c) JLL IP, INC 2016 No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. It is based on material that we believe to be reliable.
Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
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€ 4,700
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Charlotte Tilbury
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MILANO
Camper
€ 10,500
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The
Piazza
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Royal
Opera
House
London
Transport
Museum
€ 4,000
€ 4,300
in
St . M a rt
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Dr
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Camper
Timberland
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€ 1,500
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The Library
and Museum of
Freemasonry
G
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Prime Rent
Lower
St
Ch
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St
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National
Portrait
Gallery
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Subway Services
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Topshop
JLL Contacts
James Dolphin
Lead Director International Retail
+44 20 7852 4623
james.dolphin@eu.jll.com
Theatre
New Entrant
75
d
d
Savoy
an
rHigher
Retailer
H&M
s
nd
Vaudeville Shopping Centre
Theatre
St. M art in' s Lan e
Garrick
Theatre
St
ra
Mark Smith
Head of Central London Agency - Retail
+44 207 318 7829
mark.smith2@eu.jll.com
Copyright (c) JLL IP, INC 2016 No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. It is based on material that we believe to be reliable.
Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
Metres
¯
Victoria
Embankment
Gardens
A1
Brent Cross
Shopping
Centre
M1
A406
London – Overview – 4 of 4
Fenwick
A41
Brent Cross
Shopping Centre
(Extension Project)
A503
A10
John
Lewis
A12
Westfield
Stratford
City
N1
A400
Westfield
London
The
Conran
Shop
Westfield London
(Extension Project)
A40
Debenhams
A4
West
End
Selfridges
Harrods
The Conran Shop
A3220
Shoreditch
One New
Change
Covent
Garden
Fenwick
The City
Royal
Exchange
Canary Wharf
(Extension Project)
Harvey Nichols
Liberty
Harvey
Nichols
House of
Fraser
Brunswick
Centre
John
Lewis
Debenhams
House of Fraser
Whiteleys
Westfield Stratford City
(Extension Project)
King's
Cross
A13
A1261
A1203
House of Fraser
A102
Fortnum & Mason
Canary
Wharf
A100
Chelsea/
Knightsbridge Victoria
A201
House of Fraser
A2
A3204
Peter
Jones
A3212
Battersea
Power
Station
A203
A3
A202
A23
A20
Morleys
A3205
A205
Debenhams
A306
P
P
A24
Elys
Key Retail Area
Other Retail Area
Shopping Centre
Development
Department Store
A214
Debenhams
1.5
Kilometres
JLL Contacts
James Dolphin
Lead Director International Retail
+44 20 7852 4623
james.dolphin@eu.jll.com
Mark Smith
Head of Central London Agency - Retail
+44 207 318 7829
mark.smith2@eu.jll.com
Copyright (c) JLL IP, INC 2016 No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. It is based on material that we believe to be reliable.
Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.
¯