LONDON-Cheapside, the prime retail pitch in the City of London, is the shopping centre with the best growth potential in the UK, according to agent Churston Heard and economic analysts Business Strategies. London's Oxford Street also ranks high but the major regional malls fare less well in the survey.
The Business Strategies/Churston Heard Retail Potential Ranking analyses the potential for rental growth in a location based on rents currently payable, current retailer demand for space, spend per head and employment in the neighbourhood.
Cheapside is followed by Commercial Street in Leeds, Birmingham's High Street and London's Oxford Street. Next come Kensington High Street, Bristol's Broadmead, Clarence Street in Kingston-Upon-Thames, Oxford's Cornmarket, the Glades at Bromley and Manchester's Market Street.
There are some changes in this year's top ten. Kensington High Street, ranked fifth, is up 18 places from last year; Bristol's Broadmead rises from 10th to sixth; and Manchester's Market Street rises three places to 10th. The most improved major centre is Edinburgh's Princes Street, which climbed seven places to 21st.
At the same time Petty Cury, Cambridge, has dropped out of the top ten, falling four places to 11th. High Street Putney in South-West London falls four to 12th, and Cardiff's Queen Street is down five places to 15th. But Croydon's Whitgift Centre falls 11 places in the rankings to 38th and Brent Cross in North London is down 27 places to 53rd.
Some of the newer regional shopping centres have also taken a tumble; Bluewater in Kent is down 64 places to 102nd position and the nearby Lakeside mall at Thurrock is down 83 places to 226th. In the North of England, Manchester's Trafford Centre is down 28 places to 90th and the MetroCentre in Gateshead is down 96 places to 135th.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
