Located in Chelsea, one of London’s most aspirational areas, King’s Road has long had a reputation for being one of the city’s most desirable streets. With its affluent residential base and compelling mix of shops, bars and restaurants, the street has been coveted by a multitude of brands for years.

However, what has really set King’s Road apart from other central London retail destinations in the last 12-18 months is the way in which it has handled the impact of Covid-19. With professionals working from home, and also not travelling abroad, the King’s Road retail market remained particularly resilient when other central London locations were clearly struggling.

Demand for retail units on the street has remained strong, with the vacancy rate falling to 5.6 per cent in the final quarter of last year (down from 6.2 per cent in Q3). In comparison, the vacancy rate in London’s prime West End currently stands at 12.9 per cent.

Equally, footfall at the east end of King’s Road has reported considerable resilience compared to some of the more tourist-dependent West End locations. Across Q4 2021, average monthly footfall at the east end of King's Road (at the entrance to the street by Sloane Square) was down just -30.5 per cent against 2019 equivalent levels, compared to -55.8 per cent at Oxford Circus.

In addition, the tenant mix on the street continues to go from strength to strength. We saw multiple new openings in the second half of last year, with Soho House opening a 6,000 sq ft site on Duke of York Square, Ralph Lauren taking a store on Sloane Square, and high end chocolatier Knoops acquiring its third London shop.

The relaxation of planning laws since Covid-19 has also allowed for further diversification on the street, attracting a range of quality food and beverage and leisure operators which have been key to supporting footfall recovery and meeting local demand. The Ivy Asia opened in July, while new Japanese-Peruvian fusion restaurant Nakanojo chose the street for its debut flagship site.

We also saw openings from VITA Fitness and spinning operator cyKO, with the brands joining the strong boutique gym line-up already on street, which includes the likes of Kobox, F45, Triyoga and Barrecore.

Looking ahead, King’s Road has plenty to be excited about as we progress in 2022. In November, local businesses voted in favour of developing a new Business Improvement District (BID), with £4 million due to be invested into the local area in the following five years, providing a positive outlook in terms of public realm, traffic management and local environment. Meanwhile, the King’s Walk shopping centre redevelopment is forecast to complete in 2023, which will provide over 80,000 sq ft of flexible retail, leisure and office space.

In summary, King’s Road is a prime example of a standout, modern retail destination. With its high quality mix of retail and leisure, as well as workspace, the historic street has evolved to meet local demand which has in turn helped drive retailer requirements.

Further information

Contact Joshua Arnold or Phoebe Bates

Savills Central London Retail