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Author: Raul Lieberwirth
Description: A report by property firm Cushman and Wakefield has revealed New Bond Street in London is Europes most expensive retail location with rates soaring by 19.4 percent on year. Store rents grew to? 536 per square foot per year, higher than those on Paris Avenue des Champs-Elysees. New Bond Street is home to exclusive brands such as Armani and it has claimed the European top spot due to an influx of foreign visitors as the sterling falls against major currencies including the dollar and the euro. Last month, retail sales in Oxford Street, Bond Street and Regent Street grew 9.3 percent compared with a year ago - according to market researcher Springboard. Cushman and Wakefields head of central London retail, Peter Mace, said: New Bond Street remains one of the most sought after locations in the world for luxury brands.
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