Central London’s retail appeal continues, with investment volumes up 71% quarter on quarter, totalling £424 million in Q2 2024.

The new CBRE data shows Bond Street “continues to draw high volumes of capital”, with four transactions completing on the street this quarter.

“Together, these deals account for almost 60% of total London retail investment volumes for the first half of the year,” says the CBRE report.

Phil Cann, executive director at CBRE, said they have continued to see “strong investment for key central London locations”.

“Bond Street [remains] a primary area of focus and in particular, luxury brands beelining for the middle of New Bond Street as they look to cement their physical position.

“With rental growth being realised in a number of locations, investor confidence continues to grow, and we expect full year investment volumes to exceed last year.”

There have been 19 letting transactions completed in nearby Oxford Street in 2024 so far, totalling 170,000 sq ft.

CBRE’s data shows that all retailers that have moved stores on the street since the start of 2023 have upsized, “typifying the return of physical store commitments”. On average, brands have upsized by 195%, which equates to an additional 8,751 sq ft of floorspace.

In the last 20 months there have been 30 new entrants on Oxford Street, with six new brands entering the UK market including Future Stores, Manière de Voir, Activate and Paris St Germain.

In February, Drapers reported on an Oxford Street revamp plan to deliver 32.8bn in sales by 2033. Delivered by New West End Company (NWEC) and Westminster City Council, the Oxford Street Programme will begin in autumn 2024, to deliver improvements such as wider pavements and new trees.