Oxford Street is set to see a new two-acre “major retail-led development” of the Mount Royal plot as its owners hire architects Make to draw up plans. The huge plot lies between Portman Street and Old Quebec Street on northern Oxford street, and is owned by The Portman Estate and Great Portland Estates.
This morning the Office for National Statistics (ONS) shed a sliver of light on what has otherwise been a dismal period for the retail sector. Retail Sales beat expectations last month according to the ONS despite still marking the first annual drop in retail sales volumes since 2013. Elsewhere the picture has been even darker.
London’s West End has bucked the nationwide slump that’s plaguing the high streets with another year of strong growth buoyed by an increase in international spend.
A £100 million retail redevelopment project has been announced on London’s iconic Regent Street.
Popular sandal maker Birkenstock is set to open its first-ever standalone physical store in the UK in London’s Covent Garden. The German brand’s new 1100sq ft flagship will be located in Seven Dials, at 48 Neal Street, and will during open this autumn
Online retail delivery could soon become a part of the London bus network under a strategy to decrease pollution and congestion in the capital. According to The Times, transport company Go-Ahead is currently negotiating with logistics companies to convert some of its bus depots into delivery hubs as part of plans to link unused public transport with delivery services. This means empty buses could potentially be used to transport packages from online retailers such as Amazon or Asos around the capital
Amazon has been forced to overhaul the treatment of its delivery drivers after an investigation found one of its partners left them earning less than the minimum wage under a regime of fines and charges. The investigation by The Telegraph found that SEP Logistics, which delivers AmazonFresh and Prime Now orders across London, allegedly imposed a £100 fine on employees for “early” deliveries to customers’ homes.
Designer outlet shopping centre operator McArthurGlen has appointed Tom Enraght-Moony to the newly-created role of chief customer officer. Enraght-Moony will be responsible for ensuring the company continues to deliver and evolve its service to customers and brand partners. Enraght-Moony joins McArthurGlen with more than 15 years’ experience in driving business transformation and growth at tech-enabled consumer brands
Sound technology brand Sonos is set to open its first European concept store in the heart of London on November 16.
Hammerson has continued its positive run in its third quarter, with an uplift in both leasing volumes and new leases signed. The shopping centre operator signed leases worth £6.8 million of rental income, a 17 per cent rise, for the three month period ending September 30, while occupancy remained stable at 97 per cent. The leases signed were four per cent above previous passing and at 11 per cent above December 2016 estimated recovery value (ERV)