Mar. 2 - Rents at the top end of London's retail sector are soaring, while elsewhere in the industry shopkeepers are struggling to stay afloat.
▲ Hide Transcript
▶ View Transcript
Welcome to have been most expensive shop in Britain. At more than 1000 pounds per square buttons Italian fashion house -- got has set a new record for the highest -- ever pay. For retail space in the UK. It's hard to imagine the country is on the brink of recession. Ferret combo and others on this golden mile can afford to pay the soaring rents in this prime piece of real estate. Well heeled tourists are flocking to London's bond street and spend spend its patent I love this at a shopping him on a markers and I like the outdoor. Feeling kind of walking between different -- so yeah it is an experience I. -- -- Right but. Which speak on street. -- accept it but I love it but it's a different story in the rest of the country. Where retail sales are falling and many shops are struggling to survive. Many haven't. Boarded up and with many just abandon its depressing sight. Intel retail analyst Richard parks says the government can do more to help. Too many local authorities have treated the highest fixes cash cow. I'm now I think it's time really to stop putting money in that make those attractive places to go and spend time can spend real money. Back in bond street sales are booming and that means -- will too. Consultancy Cushman and Wakefield says they could soar again in 2012. Across London you can see anything between ten and and 25% increase my -- this is she. They knew what she thought out up to 25%. So I say it significant drive. Derek got -- may have paid a record ranks but I at this time next year it may look like a market. -- east south for Reuters.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code