MPs slam ‘short-sighted and incredibly damaging’ tax-free shopping u-turn October 24, 2022 Cross-party MPs have warned that a u-turn on tax-free shopping for overseas tourists is “short-sighted and incredibly damaging” as the tourism sector hopes to recover post-Covid. In a new report, the Digital, Culture, Media and Sport (DCMS) Committee said Chancellor Jeremy Hunt’s u-turn was hindering the sector. The committee said it felt the government was [...]
Exclusive: West End bounces back with rush for fresh office space October 20, 2022 The West End has come roaring back to life after firms committed 1.2m sq ft of office space in the third quarter. A race for space is also heating up, with the post-pandemic renaissance of the capital’s shopping heartland seeing prime rents for offices soar 6.5 per cent in the past year, data from Knight [...]
VAT free shopping U-turn ‘major blow’ for West End as tourists shun London for Paris and Milan October 17, 2022 Scrapping VAT free shopping for tourists is a “major blow” for London and the country’s economy, a group representing luxury stores in the West End and other retail hotspots has said. Paul Barnes, chief executive of the Association of International Retail (AIR) – whose members range from Bicester Village to Heathrow Airport – told CityA.M. the [...]
West End has 109 per cent sales boost but retail leaders call for ‘urgent’ business reform October 10, 2022 West End retailers are calling for fresh support and radical reform to help continue their pandemic recovery. The organisation representing 600 outlets and hospitality firms in Bond St, Oxford St, Regent St and Mayfair announced the district is returning to pre-coronavirus levels, but that it still needs help to stop it faltering. The New West [...]
Luxury retailers to push for tax cut acceleration ahead of coronation September 25, 2022 Luxury retailers in the West End are eager to elevate the shopping destination among its global rivals by appealing for tax changes to be accelerated. After the Chancellor suggested VAT-free shopping could boost the retail heartland from 2024 last week, the Association of International Retail said could be introduced in the next six months. The [...]
Gymshark to open doors of first physical store on London’s Regent St next month September 7, 2022 Gen Z sportswear retailer Gymshark is set to make its venture into physical retail this autumn, revealing the opening date of its Regent St flagship. The online brand is to open up shop at 165 Regent St on Saturday 1 October, after huge success over the last few years. Gymshark store on Regent Street will [...]
Central London office demand roars back to life as West End occupancy booms August 31, 2022 Central London office take-up has rebounded back to pre-pandemic levels this year and has even surpassed the ten-year average. Occupancy in the heart of the capital bounced back to pre-Covid levels during the 12 months to the end of 2022’s second quarter, according to data from real estate advisor CBRE. Take-up for offices hit 12.7m [...]
M&S doubles down on plans to demolish Art Deco Oxford St store August 21, 2022 M&S is doubling down on its plans to demolish its flagship Marble Arch store, as its CEO describes a trip to Oxford St as “dismaying.” The supermarket is embroiled in a battle with heritage campaigners over plans to raze its Art Deco store in the West End. M&S says the store has “asbestos throughout,” and [...]
Greggs’ plans to sell hot food into early hours at Leicester Sq flagship thwarted by council August 1, 2022 Greggs’ plans to sell hot food into the early hours of the morning at its Leicester Square flagship site have been knocked back. Westminster City Council blocked an application for the West End store to sell hot food – such as its chicken goujons – and hot drinks until 5am, citing concerns of the Met [...]
West End: Capco, Shaftesbury bosses to receive millions in shares after merger July 10, 2022 Top bosses at Covent Garden estate owner Capital & Counties Properties (Capco) and Shaftesbury will be awarded millions in shares after the merger between the two companies is completed. Capco’s top brass will receive shares amounting to £7.4 million while Shaftesbury’s senior executives will receive shares worth £5.3 million. The £3.5bn merger will see the [...]