admin London’s famed shopping location Oxford Street is expecting investments of up to 100 million pounds by the end of the year as high profile deals continue to bolster the area.
It builds on the ongoing retail investments into central London as a whole, which are anticipated to exceed one billion pounds this year, up to a tenth of which is set to be spent on Oxford Street.
New figures from BNP Paribas Real Estate, and reported on by CityAM which first published the news, showed that around 810 million pounds had already gone towards such investments across the city in the first half of 2023.
The figure has been boosted by notable deals across main shopping areas, such as the 103 million pound acquisition of YSL’s flagship by Swatch Group.
In a statement to CityAM, Fergus Keane, head of central London investment markets at Paribas, said: “Retail investment in traditional West End locations are in high demand.
“To put the 810 million pounds in context, this compares to around 1.2 billion pounds transacted in the West End’s office sector over the same period. Volumes in these sectors are never normally this close.”
The news comes amid growing efforts by various councils attempting to aid in the recovery of Oxford Street and beyond in response to the continued challenging period faced by such areas.
Westminster City Council, for example, recently introduced a 10 million pound scheme designed to help small businesses rent vacant store locations for free on Oxford Street.
