Kingston is among top retail markets in UK
A detailed survey has confirmed what many in Kingston already know – the town is among the most attractive high-street investment markets in the country.
Property researcher Savills identified 15 locations that offer value while still being a sound investment. In no particular order, they were Kingston, Cambridge, Guildford, Oxford, Richmond, Exeter, Bath, York, Cheltenham, Canterbury, Tunbridge Wells, Chelmsford, Edinburgh, Leamington Spa and Southampton.
Savills looked at unemployment rates/forecasts, retail spend leakage, vacancy rates and rental forecasts. Katie Taylor, Savills’ investment director, told Property Week: “There has been particularly strong investor demand for prime towns such as Kingston and Guildford, as evidenced by the inward movement of yield over the last 12 months.”
Dan Walker, Savills’ retail director, added: “In the majority of cases, there has been a lack of supply, with the ability to deliver new stock of prime retail property very restrictive.”
Indeed, Kingston’s retail development plans are underpinned by a GVA retail study which found that Kingston lacked modern units to house luxury and aspirational brands. Schemes such as the Eden Walk regeneration will address this.