Jermyn Street: the 'Most British' shopping street in London

As more and more global brands flock to the London to set up a shop, the city centre continues to become more internationalised which in turn leads to rents to spiral upwards. With less than half of the shops in London's West End, also known as the city's prime shopping area, occupied by British Brands, Jermyn Street remains the 'Most British' shopping street of them all.

According to the latest Retail Healthcheck for Central London from Colliers International, global commercial real estate service, up-scale Jermyn Street has a long history of being one of the city's main shopping destinations, dating back to 1664, and in 2015 offers the most British brands in Central London. 88 percent of the stores found between Haymarket and St James street are operated by British brands, such as Turnbull & Asser, John Lobb, Fortnum & Mason, DAKS and Favourbrook.

Jermyn Street: "the leading location for classic British menswear"

In comparison, the most international street of Central London is Sloane Street, where only 23 percent of the stores are operated by British brands. Another 23 percent of stores occupied are French labels and an whopping 41 percent of shops are held by Italian brands. 9 of the 16 streets surveyed by Colliers International currently hold more international brands than British, which reflects the ongoing globalisation of London shopping.

"London has never been more popular with international retailers and their arrival on these stores is changing the face of the shopping scene," commented Head of Central London Retail Agency, Paul Souber. "Whilst our research shows there is currently no shortage of occupier demand on West End streets, there is increasingly fierce competition from both global cities and destinations beyond the core of London."

Sloane Street: the 'Most International' shopping street in London

Together with Piccadilly, Albermarle Street and Dover Street, Jermyn Street represents the 'British Best', with luxury brands accounting for 80 percent of the total retail units, and with more than half of these being British occupied. On the other hand, the most luxurious streets such as Sloane Street and Bond Street, where over 90 percent of the retailers are luxury brands have less than 50 percent British brands today, but are home to international names such as Dior, Hugo Boss and Prada.

"In some respects, such has been the recent influx of international brands into London, it’s amazing that Jermyn Street has retained such a British flavour," added Souber. "However, the Crown Estate – which is the dominant landlord in the street – have done a great job in retaining the street’s intrinsic character whilst carefully curating its retail offer."

The report also reveals how Central London retail rents have increase over 50 percent since 2009 due to the ongoing globalization and that the vacancy rate in emerging shopping areas, such as Dover Street, Albemarle Street and Mount Street, is dropping as more retailers look beyond the city's traditional shopping streets to set up shop.

London's shopping sector undergoing a "fundamental restructuring"

"What we’re seeing is a fundamental restructuring – and expansion – of London’s shopping landscape. Prime areas are strengthening but, most importantly, new pitches are developing and becoming home to a wide variety of established and new brands. During this transition period, some British brands may be displaced because they are no longer comfortable with the levels of rent that incoming international brands are prepared to pay."

"However, London is showing an amazing capacity to accommodate everyone who wants to be in the capital in new locations where they can find the shoppers they wish to attract...London’s shopping scene has never stood still and we are now seeing an exceptional period of rapid evolution.”

Photo credit: Jermyn Street and Sloane Street