27 July 2018
This week we’ve been reading an interesting report from CBRE: ‘How Global Is the Business of Retail’ Despite the uncertainty surrounding Brexit, the UK ranked 3rd for new retail entrants, behind Hong Kong and the UAE. London claimed the top spot in 2017 for the most targeted city for new retail entrants in Europe with 49 new brands entering the market. This places London 4th, behind Hong Kong, Dubai and Taipei, reinforcing London’s status as a retail destination on the global stage. At Martin’s Properties, 50% of our portfolio is in London retail in the Kings Road, Chelsea. There has been a great deal of activity with new incoming brands and existing retailers refreshing their stores and fit outs, with ECCO’s first concept store and new brands such as Yamamay opening their first UK store earlier this year. We remain confident that retail is far from dead. However, staying fresh and relevant is essential for longevity. The diversity of retail, F&B and leisure offering is important to create a vibrant and attractive shopping experience. There has been a huge change in the leisure and F&B offering in the Kings Road since the opening of The Ivy Chelsea Garden in 2015, we are looking forward to welcoming Sticks’n’Sushi later this summer. This activity looks set to continue with KOBOX opening a bigger and better Chelsea studio at 107 Kings Road soon and Cadogan’s redevelopment of the Curzon Cinema, 196-222 Kings Road.