Market in Minutes: Central London Retail – Q3 2024
"West End sales performance remains mixed, with strong summer figures offsetting a softening in September"
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"West End sales performance remains mixed, with strong summer figures offsetting a softening in September"
"Stabilisation of occupational trends leads to improving investor interest however, consumer confidence remains fragile ahead of the Autumn Budget"
"Vacancy continues to come under downward pressure helping to drive rental growth, albeit the rate of this growth is starting to slow as performance normalises"
"In the face of subdued sales performance, vacancy continued to contract over Q1 2024, with the prime West End reporting double-digit year-on-year rental growth of 11.7%"
"Despite easing inflationary pressure positively impacting the direction of consumer confidence, spend growth remains varied by sector whilst anticipation of a recovery is leading to a hiatus in investment activity"
"Positive year-end metrics and the improving macroeconomic outlook bode well for 2024"
"Positive momentum in the occupier market continues with prime West End vacancy compressing by 282 bps to 6.5% in Q3"
"Rebased rents and business rates revaluation improves retailer demand across prime West End"
"Suburban London high streets have been supported by increased homeworking since the pandemic, with some suburbs experiencing significant retail resilience. The Savills Outer London retail resilience ranking outlines those markets presenting opportunities for expanding retail and leisure operators"
"From lockdowns to supply chain issues, fashion retailers have had a whole host of challenges to contend with."