Luxury retailers are continuing to “beeline” towards new London locations, with Bond Street and Oxford Street remaining as popular sites for bricks and mortar stores.
New CBRE data found investment volumes in central London rose 71% quarter on quarter to £424m during Q2 this year, Drapers reported.
The real estate firm found Bond Street “continues to draw high volumes of capital,” completing four transactions in the area during the period.
Its report explained: “Together, these deals account for almost 60% of total London retail investment volumes for the first half of the year.”
CBRE executive director Phil Cann said: “Bond Street (remains) a primary area of focus and in particular, luxury brands beelining for the middle of New Bond Street as they look to cement their physical position.
“With rental growth being realised in a number of locations, investor confidence continues to grow, and we expect full year investment volumes to exceed last year.”
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Additionally, there have been 19 letting transactions carried out in Oxford Street so far this year.
The data showed all of the businesses that had moved stores to the street since the beginning of last year had upsized, which typified “the return of physical store commitments”.
The news comes as Oxford Street is due to begin a £90m revamp in autumn, predicted to complete by 2027.
In March, New West End Company said the overhaul was forecast to generate up to £2.8bn extra sales during the first five years after its completion.
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