Since 2011, more than 100 new international retailers have set up shop in the UK, with most coming from Europe (63%) and the US (26%), according to Savills.
Fashion chains have been most prolific among the overseas debuts in the UK, with London very much the first port of call.
Top locations include Westfield London, W12, and Covent Garden, WC1. However, an influx of new luxury brands has meant emerging luxury locations close to Bond Street, W1, including
Dover Street, Albermarle Street, Conduit Street and Mount Street, have attracted a high level of interest.
Space requirements will differ for retail sectors, but international fashion chains will typically look for between 2,000 sq ft and 10,000 sq ft, while accessories stores will target 600 sq ft to 1,000 sq ft.
Head of central London retail at Savills, Anthony Selwyn, says: “For most international retailer entrants to London the key focus is to find the right store in the location that can best showcase their brand. Competition for space is strong, with a growing requirement list from retailers.
“Availability constraints mean we are seeing retailers look at a diverse range of locations and going forward we expect there to be much more emphasis on clearly defined locations that provide brands with suitable complementary neighbours.
“These locations are likely to enjoy better growth performance, providing good challenges for landlords to be more thoughtful on estate management.”
