London Retail Centres - Report

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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