Westminster Council has launched a consultation aimed at tightening the protection of specialist uses and clusters which are unique to Westminster including the creation of a new protection area in Mayfair
The Council says that it wants to encourage specialist retail development in St James’s and Mayfair, in particular those selling goods that are bespoke, antique or unique. Over the last few years, the high demand for retail units in the prime Mayfair shopping streets has resulted in national and international fashion houses encroaching into the surrounding streets.
This added retailer demand has resulted in a substantial increase in rents resulting in the traditional retailers, particularly the many art galleries in St James’s and Mayfair, being pushed away from their established location.
Mellersh & Harding have been acting for art gallery tenants in Mayfair and have seen first hand how the rents in the area have moved.
Retailers will welcome Westminster’s approach however landlords will see this as a restriction on open market forces.