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Future of British Business

London’s Prime Shopping Street Has a Case of Long Covid

  • Regent Street owner The Crown Estate sees ‘tough times’ ahead
  • Store vacancies are at record 12% and rents have fallen
A boarded up shop front on Regent Street, in 2021.
A boarded up shop front on Regent Street, in 2021.Photographer: Hollie Adams/Bloomberg

Regent Street, London’s premier shopping thoroughfare, is struggling to shake off the lingering effects of Covid-19. 

Store vacancy levels, at a record 12%, are almost twice what they were at the end of 2019, while asking rents for the best space on the street have fallen by more than 30% during the pandemic, according to Savills Plc.