THE NEW FRONTIER:
Why Why the the future future of of retail London’s in London retail will will be in beits in its local local centres centres
July Aug 2021 2021
CONTENTS 03 EXECUTIVE SUMMARY 04 FINDINGS AT A GLANCE 06 ANALYSIS 10 CONCLUSION 11 CASE STUDIES 21 APPENDIX
02
LONDON LOCAL RETAIL CENTRES REPORT
EXECUTIVE SUMMARY Research undertaken for U+I, specialist regeneration developer and investor, by data specialist CACI analysed London’s 49 local retail centres to establish their economic resilience, determine who was working locally and assess their spending in neighbourhood shops. The findings show that local retail centres are prime for investment and development. This report tracks how these neighbourhoods have fared since the onset of the pandemic compared to other places in London and the UK, and assesses their potential to rebound now that Covid restrictions have been lifted. Our data highlights that the ‘stay local’ trends that resulted from Covid-related restictions on travel are likely to be sustained post-pandemic, sparking further investment in local retail centres and creating a virtuous circle of growth and improvement in these neighbourhoods. Our research also shows that people are likely to want quality places and spaces closer to where they live and work; places where they can shop, eat out, spend their leisure time and relax. These shifts in employment and day-to-day living habits will drive significant change, as occupiers, landlords, developers, and local authorities identify new opportunities to match this demand.
03
FINDINGS AT A GLANCE The research shows that London’s local retail centres have robust economies and are in a good position to recover and thrive post-pandemic, due to:
High local spending power – 2.5 times higher than that of the average UK retail destination
92% of total spending coming from local people – versus 71% for all London retail locations and 84% UK-wide
Consumers who expect to carry on shopping locally once the pandemic recedes – providing a longer-term boost to local businesses
Populations nearly 2.5 times larger than the average UK location – offering a significant captive market for businesses
Populations that are more likely to work from home and use local amenities than anywhere else in the UK – bolstering local economies and communities
04
LONDON LOCAL RETAIL CENTRES REPORT
The Coronavirus pandemic has upended the UK economy in the past 18 months. London, the country’s economic powerhouse, has been hit hard. But, there are pockets of the capital that have fared better economically than others. This is particularly so in London suburbs,where high streets and surrounding neighbourhoods have benefitted from a local population that has stayed local during lockdowns. Outer London boroughs have experienced a less severe downturn than those in inner London, according to an Institute for Fiscal Studies report1. Outer areas saw a 10-20% decline in footfall across retail and leisure venues compared with pre-pandemic levels, compared to 40% in more central locations. CACI’s research, presented within this report, found that areas outside of central London have been more resilient over the past year and are in a strong position to recover quickly. It shows how the economic and social strengths of London’s local retail centres can lead to a renaissance for these and other communities, as we slowly begin to adjust to a post-pandemic world.
DEFINITIONS LONDON’S LOCAL RETAIL CENTRES Centres located in outer London boroughs that fall into any of the five minor retail classes: Large London Satellites; London Satellites; Inner London Centres and Outer London Centres
LONDON BENCHMARK All centres found within the London region
AVERAGE UK LOCATION All UK retail destinations, including all types of retail (city centres, town centres, suburbs, regional malls, retail parks and outlets)
1. www.standardlifefoundation.org.uk/docs?editionId=165cd0a1-bfbb-421b-a8e8-9f4e6a3c994b
05
ANALYSIS 1. SIGNIFICANT LOCAL SPENDING POWER The CACI research reveals that London’s local retail centres benefit from significant local spending power: two-anda-half times higher than that of the average UK location. The research also shows that 92% of total spending in these communities comes from local people, as opposed to tourists and workers. This is higher than all London locations (71%) and those UK-wide (84%). And with more people shopping locally during lockdowns, these centres are already in a strong position, given the large volume of average annual retail spend available – £105m – within a one-mile radius of the centres, compared with the UK average of £37m.
THIS IS PARTICULARLY TRUE FOR BROMLEY. 96% OF LOCAL RESIDENTS SPEND MONEY IN THE AREA AND THERE IS THE CAPACITY TO ATTAIN NEARLY £600M IN ANNUAL SPEND – THE LARGEST OF ANY LONDON LOCAL CENTRE. CACI’s findings illustrate that people living in these areas have the resources – and the inclination – to spend within their local neighbourhoods. Retailers and other businesses are, therefore, in a much stronger position to capitalise on this high spending power within the immediate area of London’s local retail centres. Moreover, as lockdown continues to be eased, CACI’s research reveals that most consumers expect to continue shopping closer to home, indicating that London’s local centres can expect a longer-term boost in footfall.
LONDON LOCAL RETAIL CENTRES
06
ANNUAL LOCAL SPEND AVAILABLE (£M)
1. CROYDON
£576.20
2. BROMLEY
£565.80
3. ILFORD
£274.20
4. SUTTON
£251.50
5. ROMFORD
£235.91
6. HARROW
£231.53
7. UXBRIDGE
£218.41
8. STAINES-UPON-THAMES
£209.85
9. WOOD GREEN
£206.90
10. EALING BROADWAY
£202.90
LONDON LOCAL RETAIL CENTRES REPORT
2. LARGER, DENSER AND MORE AFFLUENT LOCAL COMMUNITIES By virtue of their being situated away from city centres, which tend to have lower numbers of permanent residents, outer locations have larger and more dense populations. CACI’s data estimates that these centres feature a population nearly two-and-a-half times higher than the average UK location. Within a one-mile radius, individual London local retail centre locations have an average total population of just over 57,000, versus a UK average of 24,163.
WITH 82,253 PEOPLE, DEPTFORD HAS A POPULATION SIGNIFICANTLY HIGHER THAN BOTH THE LONDON AND UK AVERAGE – A SIGNIFICANT CATCHMENT MARKET AND OPPORTUNITY FOR RETAILERS AND OTHER BUSINESSES BASED THERE.
AVERAGE TOTAL POPULATION WITHIN A 1 MILE RADIUS
57,055
65,275
24,163
LONDON LOCAL RETAIL CENTRES
ALL LONDON CENTRES
AVERAGE UK LOCATION
WITHIN 1 MILE, LONDON LOCAL RETAIL CENTRES HAVE A POPULATION 236% HIGHER THAN THE UK AVERAGE
07
LONDON LOCAL RETAIL CENTRES
POPULATION
1. EAST HAM
129,012
2. WALTHAMSTOW
124,883
3. GREEN LANES
116,950
4. PECKHAM
114,277
5. WEMBLEY
94,456
6. BARKING
93,874
7. ILFORD
90,759
8. DEPTFORD
85,253
9. WOOD GREEN
81,729
10. EDGWARE
79,370
The research suggests the demographics of households within London local retail centres are comprised of those who were able – and willing – to conform to and follow government rules.
HOUSEHOLDS IN THESE LOCATIONS ARE ALSO LIKELY TO BE FROM MORE AFFLUENT GROUPS, WHO HAVE BEEN WORKING FROM HOME TO SOME EXTENT SINCE MARCH 2020, AND ARE MORE CONSCIOUS ABOUT SHOPPING LOCALLY AND SUPPORTING INDEPENDENT SHOPS. For example, according to the Acorn segmentation model (see page 23), those with executive wealth – named ‘Affluent Achievers’ – represent 20% of all households living in Bromley, while among the group featuring those experiencing rising prosperity – ‘City Sophisticates’, often younger individuals enjoying the city lifestyle with lots of opportunities to socialise, and ‘Career Climbers’ make up more than half (52%) of households living within a mile radius of Deptford. Those living in ‘successful suburbs’, which CACI’s research deems to be home-owning families living comfortably in stable areas in suburban and semi-rural locations – make up more than a third (37%) of households within a mile radius of Hayes. The dense populations of London’s local retail centres, combined with the changing habits and wealth profiles of residents, highlights the significant potential for businesses located in these areas.
08
LONDON LOCAL RETAIL CENTRES REPORT
3. LOCAL POPULATION MORE LIKELY TO STAY LOCAL Whilst the degree to which people will balance home and office working in the long term remains to be seen, there is a general consensus that a more flexible approach to working is here to stay. The trend has been supported by research by Censuswide2, also commissioned by U+I. A survey of 250 central London businesses owners found that 49% are expecting to adopt a hybrid model, with employees able to mix both office and home-based working. 5% plan to remain fully working from home post-pandemic. Notably, CACI’s research shows that those in London “are more likely to be working from home” than elsewhere in the UK, most likely because London’s economy is more dependent on professional services than anywhere else in the UK.
53% IN LONDON ARE CURRENTLY WORKING FROM HOME UK AVG = 33%
59%
39%
39%
Career Climbers
Struggling Estates
26%
Executive Wealth
City Sophisticates
These people are also more likely to be the groups deemed by the Acorn segmentation model to have a high disposable income and are likely to be spending money in the local area significantly more than they were pre-pandemic. CACI’s research reveals that such ‘City Sophisticates’ are found in higher volumes at London local centre locations. Such an increase in people working from home on a regular basis will have a positive impact on local daytime economies, stimulating activity on local high streets. This is advantageous for London local retail centre locations, which will now have an opportunity to serve those in the area for work, play and leisure. 2. CENSUSWIDE SURVEY H1 2021 - SEE APPENDIX FOR DATA
09
CONCLUSION The pandemic has dealt the UK economy a severe blow in the past 18 months. We have seen a fundamental shift in the way people live, work, shop and spend their leisure time. However, far from sounding the death-knell for local communities, such changes should be used as the basis for a renaissance of places that have weathered the pandemic. When it comes to their population’s spending, profile and changing behaviours, this report shows how local retail centre locations across London have outperformed the rest of the city and the wider UK. This is likely to continue once the pandemic has eased and will benefit these locations going forward. However, while local amenities and shops have moved up people’s priority list, the potential to meet the new demand will only be realised if such areas receive the necessary support and investment from developers and local authorities. Both need to recognise that investment is needed if these neighbourhoods are to thrive. These are resilient places. With the right investment, commitment and management these local communities can continue to flourish.
10
LONDON LOCAL RETAIL CENTRES REPORT
CASE STUDIES Our research has shown the long-term potential of London local retail centres. Whilst we hope that these findings and changing behaviours brought about by Covid will encourage others across the property industry to pursue business opportunities in these places, U+I has been dedicated to their thoughtful regeneration long before the pandemic struck. The following pages feature a number of case studies from our expansive portfolio in London, outlining how through a considered approach and working in close partnership with local authorities, stakeholders and communities, we have been able to bring about real, positive change in these places.
11
K AN E
K AN E
K AN E
1
2
R
AFFLUENT CONSUMERS WITHIN ONE MILE
R
MODELLED CATCHMENT SPEND
R
SPEND FROM RESIDENTS
6
D
86%
D
£587M
D
96%
Bromley is a prosperous neighbourhood in the capital’s southern suburbs, which ranked as one of the most resilient London local retail centres according to CACI’s analysis. It’s an example of how regeneration can shape the future direction of a place. Since acquiring a large site at the southern end of the town centre in 2010, U+I has transformed it from somewhere that offered little value to local people into a new leisure-led destination. Previously somewhat down-at-heel, dominated by car parking and with limited retail appeal, the site is now home to a mixed-use scheme known as St Mark’s Square. Operators such as VUE, Pizza Express, Nando’s, Prezzo and Premier Inn, are capitalising on the affluent local population (20% of households are characterised as Executive Wealth in CACI’s Acorn profiling). By complementing the retail offer in the rest of the town centre, residents and visitors have a greater variety of facilities on their doorstep, and therefore more opportunity to spend their time and money locally.
12
CACI’s analysis of the 49 local centres
BROMLEY
13 LONDON LOCAL RETAIL CENTRES REPORT
RICHARD UPTON, CEO OF U+I:
“ T EN YEARS AGO, IT WAS UNTHINKABLE THAT NANDO’S AND PIZZA EXPRESS WOULD COME TO THIS PART OF BROMLEY. THEIR COMMITMENT HIGHLIGHTS THE OPPORTUNITY FOR RETAIL AND HOSPITALITY OPERATORS BIG AND SMALL TO OPEN THEIR DOORS IN THE TOWN CENTRE AND CAPITALISE ON A LOCAL COMMUNITY THAT IS KEEN TO SUPPORT LOCAL BUSINESSES.”
14
£188M
85.2K
6
R
K AN E
R
K AN E
8
D
POPULATION WITHIN ONE MILE
D
SPEND WITHIN ONE MILE
LONDON LOCAL RETAIL CENTRES REPORT CACI’s analysis of the 49 local centres
DEPTFORD
This London local retail centre, one of the most central of those included in CACI’s analysis, has been undergoing a gradual transformation over the past ten years. Key to this has been the creation of Deptford Market Yard – a retail destination in the town centre and at the gateway to Deptford Station. U+I and Lewisham Council have together taken a derelict brownfield site, that was offering very little value to the local community, and created a place bustling with activity. Historic railway arches were restored and are now home to a range of businesses, meaning local people no longer need to travel further afield to shop, eat out or go for a drink. As a result of opportunities afforded by the pandemic, and as testament to Deptford Market Yard’s potential and performance, U+I recently announced a partnership with Appear Here. The retail consultancy will curate tenants to better celebrate the diversity and creativity within the local community, and support shoppers who are keen to support independent, ethical and sustainable businesses – in turn further reviving the local centre.
15
16
17 LONDON LOCAL RETAIL CENTRES REPORT
27
AFFLUENT CONSUMERS WITHIN ONE MILE
K AN E
37
D
K AN E
D
R
POPULATION WITHIN ONE MILE
51%
R
50.4K
Located to the west of the capital, Hayes is a diverse local centre bristling with potential thanks to its diverse community and existing and emerging infrastructure – the town already has excellent connections to central London and Heathrow and Crossrail is also expected to complete next year. Hayes is an example of how interventions on large-scale brownfield land can catalyse wider regeneration, for the benefit of local people and businesses. U+I has created a whole new neighbourhood on the site of the original EMI headquarters, a 17-acre swathe of derelict land and disused buildings. Now comprising homes, offices, a start-up business accelerator, shops, cinema, restaurants, cafés and a climbing centre, The Old Vinyl Factory is a fully formed place that both existing and new residents can enjoy.
18
CACI’s analysis of the 49 local centres
HAYES
LONDON LOCAL RETAIL CENTRES REPORT
CLLR EDDIE LAVERY, HILLINGDON COUNCIL’S CABINET MEMBER FOR ENVIRONMENT, HOUSING AND REGENERATION, SAID:
“ T HIS IS A REALLY EXCITING TIME FOR HAYES. THE OLD VINYL FACTORY HAS KICK-STARTED WIDER REGENERATION ACROSS THE TOWN, BRINGING IN BUSINESSES BIG AND SMALL, SERVING THE LOCAL COMMUNITY, AND ATTRACTING NEW RESIDENTS TO THE AREA.”
As testament to the area’s transformation, a recent Censuswide survey3 revealed that 31% of London business owners are now considering Hayes as an office location. Post-pandemic, many organisations are looking to implement a ‘hub and spoke’ model, with a small base in central London and satellite offices in more suburban and regional areas. Hayes is perfectly placed to offer business owners the infrastructure they need, and employees the amenities they desire.
3. CENSUSWIDE SURVEY H1 2021 - SEE APPENDIX FOR DATA
19
CLLR EDDIE LAVERY, HILLINGDON COUNCIL’S CABINET MEMBER FOR ENVIRONMENT, HOUSING AND REGENERATION, SAID:
“ W E ARE KEEN TO ATTRACT MAJOR INVESTMENT TO THE BOROUGH AND ARE CONTINUING TO WORK WITH DEVELOPERS AND BUSINESSES TO REVITALISE HILLINGDON AND HELP TO CREATE NEW HOMES AND JOBS FOR LOCAL PEOPLE. THERE IS A HUGE OPPORTUNITY TO FOSTER A TRULY DIVERSE PLACE THAT SERVES THE NEEDS OF BOTH RESIDENTS AND BUSINESSES”
20
APPENDIX LONDON LOCAL RETAIL CENTRES
MODELLED CATCHMENT COMPARISON GOODS SPEND (£M)
% OF SPEND FROM RESIDENTS
SPEND WITHIN 1 MILE RADIUS (£M)
POPULATION WITHIN 1 MILE RADIUS
PROPORTION OF AFFLUENT CONSUMERS IN 1 MILE RADIUS
WILLINGNESS TO RE-ENGAGE
LONDON FRINGE LOCATIONS
OVERALL RANKING
VARIABLE
RANKING
VARIABLE
RANKING
VARIABLE
RANKING
BROMLEY
6
£565.8
2
96%
1
£105.9
32
42,878
31
87%
6
77%
13
ALPERTON
45
£4.9
47
48%
47
£112.1
27
50,911
26
64%
30
75%
35
BARKING
36
£28.9
30
78%
42
£150.2
11
93,874
6
16%
49
75%
35
BARNET
28
£36.3
25
90%
24
£71.7
43
29,376
42
80%
13
78%
8
BECKENHAM
26
£16.5
39
82%
38
£97.1
34
51,895
25
89%
3
77%
13
VARIABLE RANKING VARIABLE
RANKING
VARIABLE RANKING
BEXLEYHEATH
21
£146.0
13
94%
6
£99.1
33
43,526
30
79%
14
74%
43
BOREHAMWOOD
45
£13.3
41
75%
43
£72.8
41
34,519
39
55%
35
77%
13
CATERHAM
34
£50.0
20
93%
16
£40.0
48
10,290
49
81%
12
76%
27
CRAYFORD
48
£21.5
35
81%
41
£67.3
45
22,424
44
59%
32
73%
47
CROYDON
7
£576.2
1
94%
5
£145.2
13
74,140
14
46%
40
77%
13
DEPTFORD
11
£40.0
22
89%
27
£187.6
6
85,253
8
55%
34
79%
4
EALING BROADWAY
5
£202.9
10
93%
10
£145.8
12
71,968
16
89%
1
76%
27 27
EAST HAM
13
£104.9
15
92%
17
£261.0
1
129,012
1
19%
48
76%
EAST SHEEN
40
£3.1
48
44%
48
£87.7
37
32,639
40
86%
8
84%
1
EDGWARE
16
£32.4
29
86%
30
£141.8
15
79,370
10
71%
22
77%
13
EDMONTON GREEN
29
£35.6
26
90%
22
£141.6
16
74,716
13
27%
47
75%
35
ELTHAM
44
£34.0
28
85%
31
£78.1
40
40,842
35
49%
39
75%
35
ENFIELD
12
£199.5
11
96%
2
£117.8
23
55,586
21
82%
11
75%
35
ERITH
49
£8.7
45
83%
36
£69.1
44
38,082
37
38%
44
73%
47
FELTHAM
33
£50.4
19
93%
15
£94.5
35
49,564
28
50%
38
75%
35
GREEN LANES
2
£46.7
21
93%
14
£221.4
2
116,950
3
68%
25
79%
4
HARLESDEN
42
£2.3
49
37%
49
£115.7
25
72,093
15
43%
42
77%
13
HARROW
15
£231.5
6
94%
9
£108.3
31
42,316
32
69%
23
77%
13
HAYES (HILLINGDON)
47
£12.2
43
73%
44
£85.2
38
50,436
27
51%
37
73%
47
HOUNSLOW
17
£146.2
12
92%
18
£154.5
10
54,207
23
69%
24
75%
35
ILFORD
9
£274.2
3
94%
7
£177.1
7
90,759
7
40%
43
76%
27
LEATHERHEAD
40
£38.6
24
83%
37
£37.3
49
12,142
48
78%
16
78%
8
LEWISHAM
3
£139.8
14
94%
8
£167.5
8
75,834
12
71%
21
78%
8
LOUGHTON
34
£35.1
27
90%
23
£59.1
46
24,264
43
72%
20
77%
13
NEW MALDEN
37
£10.3
44
48%
46
£109.3
28
41,160
34
83%
9
77%
13
NORTH FINCHLEY
14
£39.0
23
84%
33
£130.5
19
44,034
29
87%
7
80%
2
PECKHAM
8
£51.8
18
89%
25
£209.6
3
114,277
4
43%
41
80%
2
PENGE
23
£13.9
40
87%
29
£126.0
20
60,580
19
62%
31
78%
8
PINNER
19
£17.4
37
90%
21
£88.6
36
37,376
38
89%
2
79%
4
ROMFORD
19
£235.9
5
93%
12
£109.3
29
56,173
20
64%
29
74%
43
RUISLIP
22
£28.9
31
93%
11
£83.2
39
20,057
45
87%
5
77%
13
SOUTH HARROW
32
£12.3
42
83%
34
£118.5
22
68,674
17
66%
26
76%
27
SOUTHALL
43
£19.8
36
85%
32
£117.8
24
53,992
24
38%
45
74%
43
SOUTHGATE
23
£26.2
33
83%
35
£109.1
30
32,307
41
88%
4
79%
4
STAINES-UPON-THAMES
30
£209.9
8
91%
19
£51.6
47
17,961
47
78%
15
76%
27
SUTTON
4
£251.5
4
94%
4
£144.6
14
66,962
18
76%
19
77%
13
UXBRIDGE
27
£218.4
7
93%
13
£72.5
42
19,838
46
77%
18
76%
27
WALLINGTON
38
£17.3
38
81%
40
£112.6
26
41,770
33
66%
27
77%
13
WALTHAMSTOW
10
£95.8
17
89%
26
£200.1
4
124,883
2
52%
36
77%
13
WELLING
38
£26.4
32
88%
28
£120.0
21
38,564
36
78%
17
74%
43
WEMBLEY
30
£25.0
34
82%
39
£141.0
17
94,456
5
59%
33
75%
35
WEST EALING
18
£8.1
46
61%
45
£155.9
9
76,068
11
83%
10
77%
13
WOOD GREEN
1
£206.9
9
95%
3
£192.0
5
81,729
9
65%
28
78%
8
WOOLWICH
25
£104.4
16
91%
20
£139.6
18
54,959
22
30%
46
76%
27
Note: A ffluent consumers is Acorn categories Affluent Achievers, Rising Prosperity & Comfortable Communities Source: Retail Footprint 2020; Acorn; CACI Re-engagement Score
21
LONDON’S LOCAL RETAIL CENTRES 1. ALPERTON
14. EAST SHEEN
27. LEATHERHEAD
40. STAINES-UPON-THAMES
2. BARKING
15. EDGWARE
28. LEWISHAM
41. SUTTON
3. BARNET
16. EDMONTON GREEN
29. LOUGHTON
42. UXBRIDGE
4. BECKENHAM
17. ELTHAM
30. NEW MALDEN
43. WALLINGTON
5. BEXLEYHEATH
18. ENFIELD
31. NORTH FINCHLEY
44. WALTHAMSTOW
6. BOREHAMWOOD
19. ERITH
32. PECKHAM
45. WELLING
7. BROMLEY
20. FELTHAM
33. PENGE
46. WEMBLEY
8. CATERHAM
21. GREEN LANES
34. PINNER
47. WEST EALING
9. CRAYFORD
22. HARLESDEN
35. ROMFORD
48. WOOD GREEN
10. CROYDON
23. HARROW
36. RUISLIP
49. WOOLWICH
11. DEPTFORD
24. HAYES
37. SOUTH HARROW
12. EALING BROADWAY
25. HOUNSLOW
38. SOUTHALL
13. EAST HAM
26. ILFORD
39. SOUTHGATE
6
29
18
3 39 31
15
48
34
44
23 36
37
26
46 1
42
24
35
33
11
38
22
2
13
12
47 49
25
32. 14
28
20 33 4 30 10 41
27
22
5 17
40
43
8
19 45 9
LONDON LOCAL RETAIL CENTRES REPORT
DEMOGRAPHIC DEFINITIONS Acorn is a consumer classification tool that segments the UK population by postcode. By analysing demographic data, social factors, population and consumer behaviour, Acorn provides an understanding of different types of people and places.
AFFLUENT ACHIEVERS
RISING PROSPERITY
COMFORTABLE COMMUNITIES
Lavish Lifestyles, Executive Wealth, Mature Money
City Sophisticates, Career Climbers
These are some of the most financially successful people in the UK. They live in affluent, high status areas of the country. They are healthy, wealthy and confident consumers.
These are generally younger, well educated, professionals moving up the career ladder, living in our major towns and cities. Singles or couples, some are yet to start a family, others will have younger children.
Countryside Communities, Successful Suburbs, Steady Neighbourhoods, Comfortable Seniors, Starting Out
FINANCIALLY STRETCHED
URBAN ADVERSITY
Student Life, Modest Means, Striving Families, Poorer Pensioners
Young Hardship, Struggling Estates, Difficult Circumstances
This category contains a mix of traditional areas of Britain, including social housing developments specifically for the elderly. It also includes student term time areas.
This category contains the most deprived areas of towns and cities across the UK. Household incomes are low, nearly always below the national average.
This category contains much of middle of the road Britain, whether in the suburbs, smaller towns or the countryside. They are stable families and empty nesters in suburban or semi-rural areas.
NOT PRIVATE HOUSEHOLDS Active Communal Population, Inactive Communal Population, Business Areas Without Resident Population These are postcodes where the bulk of the residents are not living in private households.
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CENSUSWIDE SURVEY DATA Do you expect that post-pandemic your employees will return to working in the office fulltime or continue to work some days from home/remotely? RETURN TO THE OFFICE FULLTIME
42.86%
A MIX OF OFFICE AND HOME/REMOTE WORKING
49.21%
REMOTE/HOMEWORKING ONLY
4.76%
DON’T KNOW
3.17%
If you were considering an outer London location for a ‘spoke’ style office, which towns/cities below are the most appealing? (Tick up to three)
NORTH OF LONDON CHELMSFORD
38.49%
CAMBRIDGE
37.30%
MILTON KEYNES
36.11%
ST ALBANS
32.54%
WATFORD
15.87%
SOUTH OF LONDON BRIGHTON
41.67%
GUILDFORD
34.52%
MAIDSTONE
33.73%
CRAWLEY
32.54%
ROYAL TUNBRIDGE WELLS
16.27%
WEST OF LONDON OXFORD
43.25%
MAIDENHEAD
33.73%
HAYES
30.56%
READING
29.76%
SLOUGH
17.86%
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25 LONDON LOCAL RETAIL CENTRES REPORT
THOUGHTFUL AUTHENTIC EXPERT DELIVERING REGENERATION U+I is actively looking for new sites and there are a number of leasing opportunities available across our portfolio of London local centre schemes. To find out more, please contact hello@uandiplc.com
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