// Cadogan Estate retail sales increased marginally by 1.6% to £3.13bn
// Retail & leisure sectors now account for over half of Cadogan Estate’s portfolio
// For the first time, retail is the largest component of the portfolio at 50.8%
Cadogan Estate has reported a strong valuation performance in its retail division, with changing consumer spending habits leading to “a rapid change in retail”.
Retail sales increased marginally by 1.6 per cent to £3.13 billion, which Cadogan attributed to static yields, resilient occupational markets and growth through asset management activity which led to an increase in rents of 6.5 per cent to £86.5 million.
Cadogan said it has invested extensively in the area and continues to work with the Royal Borough of Kensington and Chelsea on proposals to improve Sloane Street public realm, following a public consultation in 2017.
The estates have also begun to work with other stakeholders on the King’s Road, producing a new visual identity, refreshed retail and leisure experience, cultural programming, as well as community initiatives.
“Changing consumer spending habits have led to a rapid change in retail, which impacts upon all retail property owners,” Cadogan chief executive Hugh Seaborn said.
“Over several years, we have adapted by strengthening our responsiveness to shopper preferences and working more closely with retail partners to refine our offer,” he said.
“We aim to deliver compelling and vibrant destinations through careful curation to attract leading fashion and lifestyle brands, with international luxury flagships.”
Retail and leisure sectors now account for over half of Cadogan Estate’s portfolio.
For the first time, retail is the largest component of the portfolio at 50.8 per cent following an increase in capital values and further investment.