Over two-thirds of Oxford Street is now office space, delegates at MIPIM UK told
Over two-thirds of Oxford Street is now office space as retailers look to make their property assets 鈥渟weat鈥�, sector specialists told delegates at MIPIM UK.
New West End Company chief executive Jace Tyrrell told delegates the 鈥渂est bit of the Monopoly board鈥� is as under pressure as the rest of the retail sector as online shopping increases its share of the market.
He added: 鈥淭here is a lot of unused space in the West End and [retailers] want to sweat their assets, reconfigure to get the benefits of Crossrail.鈥�
Mark Bourgeois, Capital & Regional executive director and incoming UK & Ireland managing director at Hammerson, agreed that for the sector it is the 鈥渦ses beyond retail that are so relevant right now鈥�.
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