MAP: The Top 10 Fastest Growing Prime Retail Streets
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Retailers and shoppers alike can breathe easy, as fears of a hard Brexit have done little to scare away shoppers. London's New Bond Street has been hailed as one of the world's prime fashion retail destinations, according to CBRE Research's semi-annual Global Prime Retail Rents. West End’s New Bond Street prime rental rates grew 39.1 percent during Q1 2017 compared to the same period in 2017, making it the fastest growing prime retail location in the world. And the second most expensive retail location, with rent averaging 1,753 US dollars per square foot per year.
New York City remains home to the world's most expensive shopping street, namely Manhattan's Upper 5th Avenue, but London showed the strongest annual rent growth, climbing up the ranking to the second most expensive shopping street, with rent averaging 1,753 US dollars per square foot per year in Q1 2017. London’s overall strong retail performance is said to be emblematic of the wider retail strength spotted across Europe, which was the only global region to register rent growth. Retail rents declined in the Americas, driven by weakness along the US Eastern Seaboard. Overseas in Asia Pacific, rents fell, but key cities, notably Hong Kong, rents started to stabilize, according to the report.
FashionUnited has mapped the Fastest-Growing Retail Locations, named by CBRE.
Instructions:Open the menu by clicking the button
in the top left of the menu or click on the icons in the map to learn more
about the locations and their retail rents.
Tip: For an optimal experience we recommend you view this map in full screen. Hit the button on the top right 'view larger map'.
Photo: Pexels