Retailers move away from London's central shopping streets as rate rises bite
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Retailers are moving away from some of London’s most famous shopping streets amid spiralling costs, putting property values at risk, Deutsche Bank’s asset management division has warned. Affordability for retailers in the capital is “increasingly stretched”, with brands, particularly those at the luxury end, “reassessing the value of a high-end store”, Deutsche Asset Management said on Wednesday. This is likely to hit rents for the shops, potentially forcing down values as the wider property sector weakens. "Prime high street retail rents in central London are at considerable risk of decline," it said.