According to the tracker there were 356 active requirements in Q1 2024, up from 284 in the first quarter of 2023 — according to Colliers the demand in this quarter represents a demand for space of just under one million sq ft.
The majority of demand came from the food and beverage sector, with 146 of the active requirements, while fashion retailers accounted for 57 and leisure and experiential concepts accounted for 55.
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Colliers also reported that there had been a decline in demand for pop-up space in the capital, with a drop of 10% in April, compared with the same month last year, which Colliers claims suggests a return in confidence from retailers to take permanent spaces.
Paul Souber, head of central London retail at Colliers, commented: “These numbers clearly demonstrate the global appeal that London holds as one of the world’s most vibrant retail and leisure destinations.
“We’re seeing both well-established brands and innovative new names all seek space across the city, with London’s diverse retail offering providing opportunities not only in the central hotspots, but also across the city’s standout neighbourhood locations.”
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