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International buyers 'headed to luxury London retail properties'
Business property owners in London who use their premises for retail purposes enjoyed a boost in trade in July.
The New West End Company (NWEC) - which represents business property owners on Oxford Street, Bond Street and Regent Street - claimed shoppers from the Middle East were largely responsible for increased profits.
NWEC was created to drive forward the capital's West End as one of the world's top shopping destinations and has worked with a number of partners including Westminster City Council, the Mayor of London and Transport for London.
Major retailers and retail investment property owners support the organisation, which promotes the area to ensure commercial success.
A spokesman said the fact Ramadan arrived ten days earlier this year may have helped the figures to swell.
"This has compensated for a sluggish domestic market due to fears over VAT and low consumer confidence," he added.
According to the statistics, commercial property owners who sell luxury goods and those with a chain of shops benefited the most from the expansion in tourist trade.
Posted by Sarah Smith
The New West End Company (NWEC) - which represents business property owners on Oxford Street, Bond Street and Regent Street - claimed shoppers from the Middle East were largely responsible for increased profits.
NWEC was created to drive forward the capital's West End as one of the world's top shopping destinations and has worked with a number of partners including Westminster City Council, the Mayor of London and Transport for London.
Major retailers and retail investment property owners support the organisation, which promotes the area to ensure commercial success.
A spokesman said the fact Ramadan arrived ten days earlier this year may have helped the figures to swell.
"This has compensated for a sluggish domestic market due to fears over VAT and low consumer confidence," he added.
According to the statistics, commercial property owners who sell luxury goods and those with a chain of shops benefited the most from the expansion in tourist trade.
Posted by Sarah Smith
Tue, 17th Aug 2010