Wembley and Kilburn have been hailed as up-and-coming areas for retail and leisure investment in Greater London.
The major study of 104 locations across the city (excluding central London) revealed Ruislip, Hounslow, Acton, Barnes, Kensal Rise and Queens Park as “flourishing” centres.
Southall, Brent Cross South, Cricklewood and Golders Green were “untapped” while Ealing, Chiswick, Hammersmith and Fulham were “truly established”. Uxbridge, Harrow, Barnet and Finchley were “maturing”, according to report authors Cushman & Wakefield.
Justin Taylor, Head of EMEA Retail, said: “This report presents a significant snapshot of London in 2018 and suggests where tomorrow’s opportunities might emerge. It highlights where change is happening. And it captures the views of some key influencers, who are at the forefront of projects that will have an impact on the capital for decades to come.”
Each location was analysed according to a range of variables, from housing affordability and public transport accessibility, to the availability of creative space, and food and beverage culture.
Wembley and Brent Cross South were highlighted in greater depth.
Matt Slade Retail Director of Quintain, which is developing Wembley Park as a mixed-use development of 7,000 homes, said: “Retailers are rightly looking carefully at potential footfall. Our core retail offer is an outlet centre which, incidentally, is extremely resilient during dips in consumer confidence. The other retail spaces benefit from close integration with the new housing. From a retailer perspective, we’re bringing customers right to their front doors.”
In Brent Cross, Argent is building a 10 million sq ft new town centre with 6,700 new homes, office space, retail and leisure use.
Argent Partner Nick Searl said: “[A] critical element will be the success of the offices and commercial activities generally. Bringing great businesses and thousands of people to work at Brent Cross South will not only shift perceptions of this part of London, it will also deliver the daytime economy that underpins the success of the ground floor shops and restaurants that will enliven the streets and create amenity for residents.”