£838 per square foot a year: Bond Street is the most expensive street in Europe

Bond Street is the most expensive street in Europe with annual rents of £838 per square foot a year, according to research by property adviser Colliers International.

Bond Street beat Bahnhofstrasse in Zurich which boasts annual rents of £599 per square foot.

Paul Souber, head of central London retail at Colliers, said: “London is still the signature location for any brand that aspires to international luxury status. At present, the demand for prime London locations seems insatiable and even the headline rental  levels achieved by new lettings do not tell the whole story about just how strong demand is.”

He added: “What we’re seeing is retailers paying ‘key money’ — multi-million pound payments to take control of existing leases just to get a foothold on Old Bond Street. The leases changing hands may already be at current market rents, but retailers will still pay millions more for the rarity value to secure a store on the street.”

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