Demand for prime retail shops and flagship stores on Oxford Street is currently outstripping supply with vacancy rates on the West End of the street at virtually zero. And according to Richard Dickinson, Chief Executive of the New West End Company, the answer lies with in the East End of the street. He had this to say:-
‘The future of the east end of Oxford looks good according to a recent study we did – especially with Crossrail being there. This part of the West End will continue to be branded, flagship retail. Tottenham Court Road will shift from electrical – which isn’t really working – to homeware. East Oxford Street will be £500 Zone A by 2020 and you can quote me on that.’
Oxford Street continues to be one of the leading shopping destinations in the world with the value of retail property transcations growing year on year. But the West End of the street has always outperformed the East End mainly because of Selfridges and it’s proximity to Bond Street.
With a significant increase in footfall by way of the proposed Crossrail, retail on Oxford Street could well be about to explode to new heights as it continues to affirm it’s status as a record breaker.
For more information on the Crossrail please click the link below:-