Shaftesbury Capital, UK-based property developer, reported an increase in portfolio valuation for the year ending December 31, despite challenging macroeconomic conditions, as its London West End properties continued to perform well. The company’s portfolio—spanning Covent Garden, Soho, Carnaby Street, and Chinatown—was independently valued at...
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Details of a new retail and leisure destination set to be opening the heart of Marylebone, London, have been unveiled by the Portman Estate and Derwent London, which will be responsible for the development of the property. Set to open in 2025, Loxton Walk will span 28,500 square feet across 17 ground floor units, accessible via George Street,...
It is no secret by now that retailers across London remain unhappy about the UK government’s decision to scrap tax-free shopping incentives for tourists. The resulting impact of the move was further emphasised in a new report by the New West End Company (NWEC), which represents the retail landscape for the West End district of London. In its...
Amid an ongoing rejuvenation of the famous shopping destination, the landlord of Oxford Street has shared data that shows such investments are beginning to pay off. New research carried out by New West End Company (NWEC) and property firm Colliers has said that Oxford Street was the “largest single component of the West End, both in terms of...
London’s West End is feeling the impact of the UK’s ‘tourist tax’ despite an increase in footfall, new data suggests. While the iconic luxury shopping hub is enjoying a continued return of tourists following the end of lockdown restrictions, the gap between footfall and spend has widened in the second quarter when compared to pre-pandemic...
London’s iconic West End has enjoyed a “strong recovery” in footfall and spending following the end of lockdowns as deep-pocketed shoppers flocked back to physical stores. Shaftesbury, the property giant that owns a 16.4-acre portfolio in the popular luxury shopping hub, said average monthly sales for its retailers are now 6 percent ahead of...
In the build up to the first restriction-free Christmas in three years, British retailers could still be facing a number of headwinds brought on by the rising cost of living and the continued absence of international travellers. In London’s West End, forecasted sales are expected to hit 1.55 billion pounds, 28 percent less than the pre-pandemic...
Following the expansion of the Elizabeth underground and overground line, which opened May 24, retailers in London’s West End are expecting to see a marginally large return in their annual sales. According to New West End Company, which oversees 600 businesses within some of the city’s central shopping districts, the impact of the new line could...
London’s West End is expected to recover to its historic annual turnover of over 10 billion pounds by 2025, according to an updated report by global property consultancy firm Colliers. The report, commissioned by New West End Company (NWEC), said that while recovery has slowed due to “economic uncertainty”, the district is still on track to hit...
A new five-year plan to “reinvigorate” London’s iconic West End shopping district has been revealed by The Heart of London Business Alliance (HOLBA). HOLBA, which represents 500 businesses in the Piccadilly & St James's and Leicester Square areas, said the plan includes over 40 potential projects “designed to preserve and enhance the unique...
London’s West End is expected to make a speedy recovery from the pandemic as consumers return to the luxury shopping hub, according to a new report. The upmarket district in Central London, which prior to 2020 was one of the world’s most popular hotspots for deep-pocketed tourists, is on track to achieve turnover of 8.6 billion pounds in the...
London’s West End is in line to receive a 5 billion pound investment over the coming five years as it looks to “bounce back” after the pandemic. The shopping district, one of the world’s most illustrious upmarket fashion destinations and a favourite of international luxury shoppers, has been hit hard by store closures and plummeting footfall...