Choosing a location for your commercial business is one of the primary decisions you’ll arrive at before you open your doors. You’ll of course want somewhere with high footfall potential which doesn’t have an astronomical rent rate and it is sometimes difficult to achieve both. You of course rely on healthy footfall especially as a B2C type of outlet. Some stores of course will be destination shops such as furniture stores and the like as people know and want to travel there and plan their journeys around that. However stores like candy and clothing rely heavily on strong footfall. There are of course those retail areas which are aspirational such as Bond Street in London or Rodeo Drive in LA; it’s quite likely that some retailers are operating there at a running loss but simply need to be seen to operate there to fit in with their luxury branding. We’ve put together an interactive StoryMap which charts some of the most expensive retail rents around the world. Scroll through and prepare to be awestruck at the rates encountered in these places!
