London View

Oxford Street

Oxford Street is commonly regarded as the UK's premier retail destination and attracts visitors from all over the world each day. Traditionally the street acted as a barometer for the  economy nationwide, being the first retail location to experience a downturn and then the first to recover.

More recently, however, the profile is totally different. Whilst the country has been experiencing economic problems with frequent news of retailers’ businesses failing, most parts of Oxford Street are subject to continued rental growth with demand exceeding supply.

Oxford Street (west) is proving to be remarkably resilient to any general economic uncertainty with values increasing to £550 Zone A and headline rents at circa £600 Zone A.

Thomas Davidson are negotiating one of the main flagship store rent reviews (Boots – Sedley Place), a 50,000 sq ft store with 4 levels of retailing.

Thomas Davidson have an unrivalled involvement on the street having conducted some of the largest retail transactions seen in recent years. These include the sale of the 40,000 sq ft  Waterstones store to Uniqlo at 311, the letting of 174 to Hennes which totalled 25,000 sq ft and in addition the letting of the adjacent 17,000 sq ft  unit again to Uniqlo.  On behalf of Oriana we are currently working on a development project on the former Virgin Megastore site close to Tottenham Court Road. Site construction is due to start in February 2010 and the 2 large stores which have been created,  both over 30,000 sq ft, are under offer to multiple high street retailers.