West End revival
Occupier confidence in the West End is beginning to return with some existing retailers moving to better locations or superior-configured stores, according to Savills research
Mobility across London reached its highest levels in the second quarter since the start of the pandemic. However, average weekly footfall is still 56 per cent lower than pre-Covid levels due to low overseas arrivals and continued homeworking.
Savills commercial research director Marie Hickey said: “The vast majority of demand is currently generated by domestic day-trippers, and so locations offering a blended retail and leisure mix are witnessing higher footfall recovery. Oxford Circus and Bond Street, with their proximity to Soho and Mayfair respectively, have therefore experienced journey recovery outpacing the West End average.”