London is one of the most sprawling cities in the world, and new retail areas pop up as regularly as tulips in spring. Brands such as Diesel, Topshop, French Connection and Burberry have a shop on practically every major street. WWD asked CB Richard Ellis, a real estate services firm, to compile a ranking of London’s top retail streets, ranked by average rent per square foot. Rent figures reflect the average per square foot for each neighborhood of prime retail space.
1. BOND STREET
Average rent per square foot: $1,542 (812 pounds at current exchange)
A chic shopping enclave since 1700, Bond Street has attracted a plethora of prestigious fashion favorites, including Hermès, Gucci, Yves Saint Laurent, Louis Vuitton, Ralph Lauren, Burberry, Dolce & Gabbana, Prada, Chanel and Alexander McQueen. The mix also includes a number of diffusion brands, such as Emporio Armani, DKNY and D&G, as well as high street favorites Jigsaw and recent arrival Diesel. In addition to high-end apparel, other luxury brands with locations on the street include stationer Smythson; jewelers Tiffany & Co. (seen left), De Beers and Mikimoto, and auction house Sotheby’s.
2. OXFORD STREET (WEST)
Average rent: $1,425 (750 pounds)
One of London’s busiest shopping thoroughfares, Oxford Street is home to many of the U.K.’s best-known high street brands, including French Connection, Monsoon, Miss Selfridge, Marks & Spencer (left), Dorothy Perkins, Next and New Look. International labels, including Gap and Mango, have also set up shop there. Selfridges department store takes pride of place, with its signature yellow shopping bags a ubiquitous feature on the arms of locals and tourists alike. London’s Mayor Ken Livingstone recently announced plans to revitalize Oxford Street, which would include creating pedestrian-only areas and a tramway to decongest the street’s bus and taxi traffic. The plan is due for completion in 2012 or 2013.
3. COVENT GARDEN
Average rent: $1,092 (575 pounds)
Offering a hip mix of cheap ‘n’ chic favorites, such as H&M and Oasis; high-end labels, including Hugo Boss, Nicole Farhi and Reiss, and specialty stores, like Urban Outfitters and Fat Face, Covent Garden has something for everyone. The Natural Shoe Store is only a few steps from Foot Locker, for example, and Paul Smith and Paul Frank also share the neighborhood. Amsterdam-based denim brand G-Star opened a boutique on Shorts Gardens this summer. The area, which centers around the Covent Garden Piazza and features a market and opera house, has become a beauty destination of late, too. Mass market brand Simple recently opened a spa there, as did men’s treatment brand Nickel, while MAC, Shu Uemura, Von Dutch, Pout, Space NK and Kiehl’s have stores in the neighborhood.
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4. REGENT STREET
Average rent: $1,032 (543 pounds)
Running from Oxford Circus to Picadilly Circus, Regent Street houses both high-end and high street labels. Brooks Bros. opened a flagship there this year, while surfer brand Quiksilver unveiled a door in April. Aquascutum also overhauled its boutique at 100 Regent Street recently. Other apparel brands present include Austin Reed, Principles, Lacoste, Jaeger and Burberry (seen left). Liberty department store recently retrenched to its mock-Tudor building, giving up a connecting space it occupied on Regent Street. Edward Whitefield, chairman of Management Horizons Europe, told WWD that 50 percent of traffic on Regent Street is tourist-driven, with many visitors coming from Eastern Europe, Japan and Saudi Arabia.
5. KNIGHTSBRIDGE
Average rent: $997 (525 pounds)
Home to luxury emporia Harrods and Harvey Nichols, Knightsbridge is one of London’s swankier locations. British luxury brands Mulberry and Rigby & Peller have addresses there as well. The luxury department stores and boutiques are flanked by accessibly priced branded stores, including Monsoon, Zara and French Connection. The neighborhood appeals to local shoppers as well as tourists.
6. OXFORD STREET (EAST)
Average rent: $950 (500 pounds)
High street labels are a firm fixture of the east end of Oxford Street. Fast fashion favorite Topshop (left) has a three-story flagship at Oxford Circus next door to Niketown. Marks & Spencer, H&M and Uniqlo have stores there, as well as high street shoe brands and mobile phone dealers. Also located here is HMV — the store itself is known to be the oldest record shop in the world.
7. KING’S ROAD
Average rent: $760 (400 pounds)
The chic shopping zone connects to newly hip Sloane Square. King’s Road itself features contemporary fashion brands including Pepe, Whistles, Diesel (left) and Calvin Klein. Concept store The Shop at Bluebird carries a variety of established designers as well as up-and-coming names, including Richard Nicoll and Marios Schwab. Greek natural beauty brand Korres has a flagship there and Penhaligon’s, the quintessentially English fragrance house, opened a space on King’s Road earlier this year.
8. KENSINGTON HIGH STREET
Average rent: $722 (380 pounds)
With Sisley (left), Diesel, Miss Sixty, Topshop, Zara, Esprit, Mango and Urban Outfitters all as close neighbors, Kensington High Street offers another take on the high street. While once the home of directional retail spaces — such as Biba and Kensington Market — the street has developed a more mainstream appeal in recent years.
9. CARNABY STREET
Average rent: $589 (310 pounds)
As it was during the Swinging Sixties, Carnaby Street is still about casual cool. Better sportswear brands, including American Apparel and Diesel, are residents, as well as Puma, Timberland and Vans. This summer, U.S. denim brand Buffalo Jeans opened a guerrilla store on the street, which also houses jeans labels Miss Sixty, Pepe, Lee and Fornarina. Hugo Boss brought its Boss Orange store concept there, too. “The street has really been coming up over the past couple of years, with new shops and new designers,” Andrea Cannelloni, creative director of Boss Orange, told WWD earlier this year. “It attracts people who travel, and has great local customers, too.”
10. WESTBOURNE GROVE
Average rent: $456 (240 pounds)
Located a stone’s throw away from London’s famed Portobello Road, Notting Hill’s Westbourne Grove is awash with local heroes and international brands. Hot spots include Jigsaw, Mulberry, Joseph, Emma Hope (seen left) and Agnes B. Quirky U.S. beauty brand Benefit also has a door there and Nanette Lepore opened a locale close to Nicole Farhi and Agent Provocateur this summer.