A number of central London’s largest landowners, including Grosvenor and Cadogan, have cheered a strong Christmas performance on their huge estates, despite retail challenges.
Updates from the landlords, which also included the Howard de Walden Estate and the Crown Estate, came as the cost of living crisis weighs on many consumers.
Rob Kirk, head of retail and leisure at the Howard de Walden Estate, said footfall in Marylebone Village during December was up 46% and 8% from the same months in 2022 and 2019 respectively.
He added that was despite challenging weather and some rail disruptions during the period. Visitor numbers were “boosted by the appeal of an array of exciting new signings over the last year”.
At Grosvenor, known for owning swathes of Mayfair and Belgravia, collective spend across retail stores on the estate last month was 35% higher than in December 2022, while food and beverage sales rose by 26%.
Amelia Bright, executive director of the London estate at Grosvenor, said: “Across the year, we also saw sales from international visitors increase as they continue to return. This highlights how crucial it is for London to promote itself on an increasingly competitive world stage as an exciting destination that offers visitors a unique blend of experiences, history, and culture.”
Simon Harding-Roots, managing director, London at the Crown Estate, said: “We’ve seen encouraging signs across our West End portfolio over the last few months, enjoying a strong December as people returned in abundance to enjoy the area’s famous festive offer.”
Hugh Seaborn, chief executive of Cadogan, said: “Chelsea closed the year with sales up 10% on pre-covid (2019) figures and resilient footfall over the festive trading period.”
He added that the Christmas lights switch-on saw thousands flock to the neighbourhood and an ongoing events campaign coupled with strong openings, "ensured Chelsea consistently offered exciting reasons to visit and stay, while strengthening the area’s unique character and appeal".
Latest New West End Company data shows that footfall in the West End rose 3% in November and December, compared with the same period in 2022.
Meanwhile in early January research from MRI Software said UK High Street footfall in December increased 1.2% from a year earlier.
