×
225
Fashion Jobs
LEVI'S
Key Account Manager
Permanent · London
TOMASZ DONOCIK
Digital Marketing And Sales Coordinator
Permanent · LONDON
PYOU
Wholesale Business Developer/Sales Manager
Permanent · LONDON
SHISEIDO
Demand Planner
Permanent · London
SHISEIDO
Commercial Finance Analyst
Permanent · London
SHISEIDO
Bareminerals Account Manager - bt2, Blanchardstown
Permanent · Chappaqua
SHISEIDO
Bareminerals Account Manager - Moores, Colearine
Permanent · Coleraine
SHISEIDO
Group Business Analyst
Permanent · London
SHISEIDO
Accounts Payable Manager
Permanent · LONDON
THE KOOPLES
Full Time Sales Assistant - London
Fixed-term · LONDON
RENÉ SCHEIBENBAUER
Studio Assistant Placement
Internship · LONDON
LEVI'S
Sales Stylist London o2 Arena 16 Hours
Permanent · London
HUGO BOSS
Assistant Store Manager - New Cathedral Street, Manchester
Permanent · Manchester
HUGO BOSS
Sales Associate - New Cathedral Street, Manchester
Permanent · Manchester
HUGO BOSS
Sales Associate - Southampton
Permanent · Southampton
HUGO BOSS
Sales Associate - Bristol Cribbs Causeway
Permanent · Bristol
HUGO BOSS
Brand Specialist - Birmingham Bullring
Permanent · Birmingham
HUGO BOSS
Assistant Store Manager - Bicester
Permanent · Oxford
HUGO BOSS
Assistant Store Manager - Bristol Cribbs Causeway
Permanent · Bristol
HUGO BOSS
Supervisor - Milton Keynes
Permanent · Milton Keynes
HUGO BOSS
Brand Specialist - New Cathedral Street, Manchester
Permanent · Manchester
CLERGERIE
Assistant Store Manager (Walton Street)
Permanent · LONDON
Published
Mar 2, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

West End property still in demand as Reubens buy Armani store

Published
Mar 2, 2021

​Prime real estate will always be in demand, but at what price? Fears that the pandemic might have a lasting effect on physical retail and the prices businesses are  willing to pay for property look to be overstated, for now.


Bond Street - Image: Publica


The Armani flagship store on London’s Bond Street is being sold to property billionaires David and Simon Reuben for a reputed £95.5 million, understood to yield a 3% gain. 

Meanwhile, the Burberry store within the Westbury hotel, also on Bond Street, is up for sale with an asking price of more than £290 million.

However, values of Bond Street property, one of Europe’s leading luxury shopping destinations, could yet be hit not just by the effects the pandemic but by retail's ability to bounce back, post-lockdowns.

Much will depend on the return of tourists to London's West End. The UK could soon be open for business to foreign tourists, but changes to the VAT-reclaim retail perk could mean they see London as a less attractive city to visit for shopping in future.

And although the long-anticipated return of non-essential retail will be a boon to physical retail overall with pent-up demand to shop reflected in rocketing footfall this spring, the pandemic has had a deep and lasting effect on the retail landscape.

E-commerce has left a deep imprint on the way consumers have shopped over the last year and has dented confidence in the ability of physical rail to bounce back. In turn, property values and rents, particularly for premium addresses, could be hit in the years ahead.

Copyright © 2021 FashionNetwork.com All rights reserved.