New report says 1m sq m being planned

A new report has said that nearly 1 million sq m of retail space is being planned for London in the coming years.

Schemes include Allies & Morrison’s plan for the Whitgift shopping centre (pictured) in Croydon and Benoy’s work at the transformation of Battersea power station.

Allies & Morrison is also behind plans to expand the Brent Cross shopping centre in north London while it is working on plans to extend Westfield London at White City in the west.

The Colliers Central London Retail Health Check report said demand for space was pushing up rents with the asking price on Oxford Street up by a quarter in the last year.

Collier’s head of retail agency Paul Souber said: “The level of development planned is sustainable and can be accommodated. London’s population is due to grow and these developments all come with improvements in infrastructure.”