- Don-Alvin Adegeest |
While London remains one of the most expensive cities and real estate locations in the world, it must do all it can to attract smaller brands and businesses. Many cannot afford to set up shop in the fashionable capital, simply because it is unattainable to do so with sky-high rents, council tax, business rates, and high operating costs.
Real estate giant Grosvenor Britain & Ireland are fighting to keep independent shopkeeping alive, and have launched a concierge service to help small retailers open in the West End in the commercial area of Mayfair and Belgravia.
The concierge will aid small retailers to set up shop in central London
The company said the service "would facilitate the transition of small independent retailers and start-ups into physical space in the commercial heart of the capital".
Its offer to new retailers, at a time of great challenges for the retail sector, includes advice for setting up stores, with access to designers, contractors, project managers and furniture suppliers, and for services, such as pr and marketing and management of facilities.
Tor Burrows, Director of Placemaking, Grosvenor Britain & Ireland commented: “With so many young and independent brands on the estate we are acutely aware of the stress and time that is involved in launching a store. Our Retail Concierge Service makes it a lot easier for ambitious retailers to take new space. We provide critical support and infrastructure in a cost effective and collaborative way, preventing the most common mistakes and accidental overspends, which can be damaging to a small, cost sensitive, brand.”
The launch of the retail concierge service is just one way Grosvenor is working to improve the environment for those visiting, operating and working in the West End. In early 2018, Grosvenor announced it would invest 1 billion pounds to deliver new and improved retail and office space across its estate backed by significant investments in the street level environment, green spaces, cultural events and visitor experiences.
Tor Burrows added: “We are investing to ensure the competitive advantage of the West End for generations to come. Our commitment will help the estate be more open, accessible and enticing to a broader range of people.”
Grosvenor Britain & Ireland is part of the Grosvenor Group, one of the world’s largest privately-owned property companies, which develops, manages and invests in property in more than 60 cities around the world.
As at 31 December 2017, Grosvenor Britain & Ireland had assets under management of 5.2bn pounds. The company's diverse property development, management and investment portfolio includes Grosvenor’s London estate of Mayfair and Belgravia and other developments in London, Oxfordshire and Cambridgshire.
Photo credit: London's West End, source: Grosvenor website