Retailers 'keen to set up shop in London'

Date: 22/08/2011

A significant number of enterprises could be looking to purchase local 02 numbers.

This is because - according to Mat Oakley, director of commercial research at global real estate service provider Savills - an almost "endless" number of companies are looking to establish themselves on the London's main shopping streets.

He claimed the situation regarding premises in the capital is "probably a more extreme story" within the retail market than the office sector.

As a result of this, rental charges are at "record highs" in many locations, Mr Oakley continued.

However, the expert pointed out that these prices are unlikely to dissuade retailers from setting up shop in London if they are keen for the city to be the location of their flagship store.

"Retailer demand is not as footloose [as office demand]," Mr Oakley concluded.

These comments come after the Investment Property Databank revealed earlier this month that commercial property yields remained steady in July.