London’s Top 10 Boroughs for Shopaholics and Socialites
In the latest edition of the CBRE Hot 100 we’ve researched a number of locations around London and identified the top ten boroughs for Shopaholics. This means we’ve pinpointed exactly where you need to move to if you simply love shopping, want to live close to a great coffee shop or need easy access to the best restaurants to meet with friends and family.
Our research has found that we can now associate quality retail with the desirability of residential developments in London. A staggering 77 per cent of those who took part in our recent survey said that the shops and outlets in the local area had a positive impact on where they chose to live, while even more – 86 per cent – said that retail outlets would make a new residential development in London more appealing.
83 per cent of respondents said that it was important to have a strong retail offering in the area, with 65 per cent preferring independent stores. 91 per cent stated that ‘convenience’ was the main benefit of living around retail so that they didn’t have to travel far to go shopping.
As anyone who knows London well will know, Westminster is one of the most famous shopping areas, with Oxford Street, Regent Street and Bond Street all within the borough. Unsurprisingly, it has the highest number of shops with a whopping 5,937 at the time we compiled our study.
Second on the list of boroughs with the most shops was Barnet with 2,189, ahead of the City of London with 1,895 and Kensington & Chelsea with 1,822. The top five was rounded off by Hammersmith & Fulham with 1,590 although Newham (1,587) and Croydon (1,552) were close behind.
In eighth place was Wandsworth with a total of 1,538 shops ahead of Brent in ninth with 1,479 and Lambeth just crept into the top ten with 1,170.
For foodies, Westminster also came out on top as the borough with the most food and drink outlets with 2,870 places to grab a drink or bite to eat, ahead of the City of London with 1,438 and Barnet with 732.
As part of our research we also asked buyers which type of retail outlet they would most like to have in their residential development. 70 per cent said that they would prefer a coffee shop or patisserie; while 54 per cent said they would like either a supermarket or a restaurant. Perhaps slightly surprisingly, only 44 per cent said they would want a bar or wine bar… what would you choose?