Goodbye Piccadilly, farewell Leicester Square: Where are retail’s new property hotspots?

Empty Piccadilly Circus

People are travelling less, working from home more and less inclined to congregate in busy public spaces – will this change where retailers want to open stores?

Non-essential shops reopened on June 15, but shoppers have not rushed back to the high street – and it’s no surprise that city centres have fared worse than other locations given that many people are still working from home.

For example, footfall in London’s West End was down an eye-watering 80.8% year on year in the first week stores opened their doors, according to Springboard. 

Even the reopening of pubs and restaurants failed to bring people into central London. Visitor numbers plummeted 75% year on year over Super Saturday weekend, when these establishments swung open their doors again, compared with the average 50% drop across all shopping and leisure destinations in England.

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