Brexit has had its critics since the UK voted to leave the EU in 2016, but there have been few complaints from some shop owners in London, where the resulting sharp drop in sterling has helped keep tills ringing.
The city’s prime retail streets around the upmarket district of Mayfair have long been home to the worlds leading brands and typically command the biggest rents in the UK, comparable with districts such as Fifth Avenue in New York or Paris’ Champs-Elysees.
Retailers in London have been less affected by the consumer slowdown evident in other parts of the UK, where a combination of falls in real wages and fears over the impact of an exit from the EU have curtailed spending in many shopping areas. The fall in the value of sterling, though, has encouraged overseas visitors to spend heavily.
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