The company anticipates that 2025 retail investment activity could exceed £2bn, the highest annual figure since 2018.

Investment volumes for key retail streets across the West End in Q2 were largely in line with Q1 figures, bringing volumes for the first half of the year to £495m, which is 19% up year on year. With a number of key retail street acquisitions expected to complete in the second half of the year, full-year volumes are projected to exceed the £523m transacted in 2024.

Charlie Stoneham, associate director, Central London investment, at Savills, said: “We’re seeing a marked resurgence in investor appetite for Central London retail, particularly in the West End. Sovereign wealth funds and private equity are increasingly active, drawn by the sector’s compelling fundamentals – long, landlord favourable lease structures, resilient footfall, and relatively low capital expenditure requirements. The recent uptick in owner-occupier acquisitions also signals a shift in sentiment, with businesses committing to long-term presence in prime retail locations.”

Marie Hickey, director of research at Savills, added: “There are a number of factors supporting the renewed appeal of Oxford Street to investors and occupiers alike with the pedestrianisation of the street, envisaged by the end of 2028, to be an added attraction. Likewise, the scale and quality of development on the street in recent years is delivering best in class retail and office space, all culminating to create compelling investment opportunities that will underpin momentum into the second half of the year.”