London Retail Space Set to Grow by 8 Million Sq Ft in Five Years

Posted on 21 December, 2015 by Chris Grigorovsky

A report from commercial property adviser, CBRE, has stated that the amount of retail space in London will expand by almost 8 million sq ft over the next five years.

London Retail Space Set to Grow by 8 Million Sq Ft in Five Years

It revealed that the planning permission, which has been granted for retail space in the London area, is an equivalent to the combined size of Bond Street, Regent Street and Oxford Street.

Nearly 3 million sq ft of space will be within three retail-online developments, while the remaining 5 million sq ft is to be built across 30 sites in the ‘London Halo’ zones.

The developments comprise mixed-use schemes, including Earls Court which will have shopping space built alongside residential schemes, as well as King’s Cross’ office-led developments.

CBRE’S Chairman of Central London Retail, Hugh Radford, commented: “Existing prime retail locations are bursting at the seams, which means that confidence in the sector and its future potential has accelerated investment.

He said that 100,000 residents arrive in London every year with another million forecast by 2025.

Mr. Radford continues: “This will mean London’s landscape is transformed over the next five years by the addition of more than 8 million sq ft of new shopping space. It creates an incredible opportunity for the sector and London economy as a whole.”




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme