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St. Giles, a previously little-known area of London, is transforming into a hive of commercial development activity with a slew of new retail and office property in the pipeline, according to a new report produced by Colliers International, in partnership with New West End Co, The Fitzrovia Partnership and Midtown Business Improvement Districts.
Since 2012 more than 400k SF of new retail lettings have delivered an influx of new brands to the St. Giles area, including 12 flagship stores. Brands including Benetton, Zara, Next, New Look, and a 149k SF Primark have planted a flag in St. Giles, which is driving demand for more amenities, such as a restaurants and bars. About 60k SF has recently been occupied by dining establishments and another 35k SF is in the pipeline.
Media and technology businesses have cropped up in the area, led by Facebook’s purpose-built HQ at Rathbone Square. More than 830k SF has been snapped up in the area since 2000.
The report says demand for the shops and dining options is being fueled by the prospect of 200,000 Crossrail passengers per day that are expected to use the Elizabeth line at Tottenham Court Road when it opens in 2018.
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