# London’s West End regains pre-pandemic buzz, boosting sales
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-29
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: London's West End Sees Return to Pre-Pandemic Sales
Meta Description: London's West End has bounced back with retail and hospitality sales, drawing shoppers and diners back with festive cheer. Find out more here.
URL: https://financedigest.com/londons-west-end-regains-pre-pandemic-buzz-boosting-saleshtml

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By Aby Jose Koilparambil and Suban Abdulla

(Reuters) -London’s West End has seen retail, hospitality and leisure venue sales return to pre-pandemic levels, boosting rent and property demand, commercial landlord Shaftesbury said on Tuesday.

From Carnaby Street to Piccadilly Circus and China Town, shoppers, diners, drinkers and theatre-goers have been packing central London’s streets in the build-up to Christmas, with many drawn by the festive decorations.

[London had lagged other parts of Britain in recovering from COVID-19 as workers were slow to return](https://www.financedigest.com/athletics-farah-returns-for-london-marathon-before-likely-2023-retirement.html "Athletics-Farah returns for London Marathon before likely 2023 retirement") to offices, but pubs have reported stronger demand in the run up to Christmas and international tourists have returned since the summer.

Shaftesbury said it had not yet seen a “significant impact” on the number of shoppers or visitors to its properties from a downturn in Britain’s [economy but noted that inflation rates at a 41-year high could hit](https://www.financedigest.com/uk-economy-set-for-smaller-hit-in-2023-than-previously-feared-imf.html "UK economy set for smaller hit in 2023 than previously feared – IMF") consumer confidence over time.

Although London and the [West End](https://www.financedigest.com/putin-says-peace-talks-with-ukraine-are-at-dead-end-goads-the-west.html "Putin says peace talks with Ukraine are at dead end, goads the West") cannot be immune from the unprecedented range of challenges which are now dominating the national outlook, their long-term prospects remain bright,” Chief Executive Brian Bickell said.

The [property firm said in its full-year results](https://www.financedigest.com/immediate-lift-of-oxford-property-prices-to-result-from-new-direct-high-speed-rail-connection-with-london.html "“Immediate lift” of Oxford property prices to result from new direct high speed rail connection with London") that its retail and hospitality tenants were reporting average monthly sales 6% ahead of pre-crisis levels.

Surveys and official data shows that British consumer confidence is near an all-time low and overall sales volumes are below [pre-pandemic levels](https://www.financedigest.com/fraport-sees-2023-passenger-traffic-at-80-90-of-pre-pandemic-levels.html "Fraport sees 2023 passenger traffic at 80-90% of pre-pandemic levels") as inflation limits shopping.

Shaftesbury said that [restaurants and pubs in the central London hotspot were primed to benefit from a Christmas season free of lockdowns and crowds watching the World](https://www.financedigest.com/best-restaurants-in-the-world-a-foodies-guide.html "Best restaurants in the world – a foodie’s guide") Cup.

Earlier in November, pubs group Fuller, Smith & Turner reported a 67% [jump in comparable sales](https://www.financedigest.com/indias-tata-motors-jumps-to-a-7-month-high-on-strong-q4-jlr-sales.html "India’s Tata Motors jumps to a 7-month high on strong Q4 JLR sales") in central London in the first half. Pub group JD Wetherspoon [posted a 9.6% rise in like-for-like sales](https://www.financedigest.com/mercedes-posts-rise-in-q1-sales-boosted-by-evs-premium-cars.html "Mercedes posts rise in Q1 sales boosted by EVs, premium cars") for the first quarter.

Shaftesbury owns [around 600 buildings in the heart of the West End](https://www.financedigest.com/roller-screw-market-ending-up-at-a-valuation-of-around-us-457-5-mn-by-2031.html "Roller Screw Market Ending Up At A Valuation Of Around US$ 457.5 Mn By 2031"). More than a [third of the FTSE 250 firm’s property](https://www.financedigest.com/greek-residential-property-price-recovery-picks-up-in-third-quarter.html "Greek residential property price recovery picks up in third quarter") portfolio is occupied by hospitality and leisure firms, while about 27% is retail.

This year Shaftesbury announced a merger with Capital & Counties Properties to create a 5 [billion pound](https://www.financedigest.com/shell-to-evaluate-25-billion-pound-british-investments-after-windfall-tax.html "Shell to ‘evaluate’ 25 billion pound British investments after windfall tax") ($6 billion) estate.

($1 = 0.8328 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru, additional reporting by Suban Abdulla; Editing by Saumyadeb Chakrabarty and Alexander Smith)


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