Top Oxford Street alternatives to open a shop in Central London
Oxford Street is London’s busiest shopping destination, but it’s not the only option for ambitious retailers. While its global recognition is undeniable, high rental costs and overwhelming competition have left many businesses searching for smarter choices. Therefore, if you seek visibility, profitability, and long-term stability, here are Oxford Street alternatives for retail success.
Why look beyond Oxford Street?
Oxford Street boasts unmatched footfall, attracting over 72,000 shoppers every day. However, the cost of trading here has escalated significantly. For instance, retail rent costs have increased to $675 and are still rising. This presents a substantial financial burden, especially for small and medium-sized retailers. The mounting service charges, utility fees, and high business rates also make Oxford Street an expensive shopping area for any store planning for retail shop openings (1), (2).
Competition is another factor pushing retailers to look for West End shopping alternatives. Global fashion and tech giants with enormous marketing budgets dominate the street. While footfall is impressive, this does not always translate into sustainable sales for smaller players. Independent retailers often struggle to stand out, making them consider other shopping streets in Fitzrovia, Marylebone, or Covent Garden (3). This allows brands to balance visibility and customer engagement without being overshadowed.
Best Oxford Street alternatives for retail success
Below are six Oxford Street retail alternatives, each offering a unique mix of affordability, audience type, and retail opportunities. The data for areas in Fitzrovia Quarter or the Golden Triangle area (including Great Portland St., Margaret St., and Little Portland St.) was from The Langham Estate’s available property prices (4). For other areas, the data were from Central London market reports.
Great Portland Street
- Average rental cost: £70.00 per sq ft
- Type of audience: Professionals, commuters, and residents.
- Best known for: A mix of convenience stores, lifestyle outlets, and services supporting office workers.
- Competition density: Moderate, more opportunities for new entrants.
- Typical unit sizes: Small-to-medium rental units.
- Retailer suitability: Ideal for independent retailers in Fitzrovia offering food, lifestyle, or service-led concepts.
Great Portland Street combines residential and commercial vibrancy, offering access to a professional audience in Fitzrovia. It is ideal for brands seeking visibility without Oxford Street’s costs.
Margaret Street
- Average rental cost: £61.51 – £70.00 per sq ft
- Type of audience: Local office workers, boutique shoppers, and niche market followers.
- Best known for: Design studios, lifestyle shops, and emerging independent fashion outlets (5).
- Competition density: Lower than Oxford Street, allowing independent brands to carve a niche.
- Typical unit sizes: Smaller shop rentals, often refurbished to modern standards.
- Retailer suitability: Perfect for boutique fashion labels, wellness studios, and store planning for retail shop experiments.
Margaret Street is one of the best retail streets near Oxford Street, with strong links to the Fitzrovia community. It’s ideal for retailers aiming to attract style-driven customers in an accessible, central location.
Regent Street
- Average rental cost: Prime Zone A rates start from £750 per sq ft
- Type of audience: International tourists, high-net-worth individuals, and luxury shoppers.
- Best known for: Luxury fashion, lifestyle, and flagship retail stores.
- Competition density: Very high, with many global brands.
- Typical unit sizes: Large, multi-level flagship units.
- Retailer suitability: Suitable for global fashion and luxury retailers who want to invest heavily in visibility and long-term positioning.
Regent Street is one of premier West End shopping alternatives, offering global prestige. While costs are higher than Oxford Street, the international audience and brand visibility make it a solid choice for established retailers.
Carnaby Street
- Average rental cost: Smaller retail units averaging £300–400 sq ft.
- Type of audience: Young shoppers, fashion enthusiasts, and tourists seeking unique experiences.
- Best known for: Independent boutiques, lifestyle, and food concepts.
- Competition density: High, but within a supportive ecosystem for independents.
- Typical unit sizes: Compact spaces, ideal for startups.
- Retailer suitability: Strong for indie fashion, quirky lifestyle retailers, and food operators. Ideal for businesses looking to build strong cultural appeal.
Carnaby Street retail space is synonymous with youth culture and trendsetting. Retailers seeking cultural relevance and exposure to a style-conscious audience will find this an attractive alternative.
Covent Garden
- Average rental cost: £86 per sq ft
- Type of audience: A mix of international tourists and locals seeking leisure and dining.
- Best known for: Food & beverage, boutique fashion, and experiential retail.
- Competition density: Moderate to high, but footfall is steady and diverse.
- Typical unit sizes: Flexible options range from small independents to larger experiential stores.
- Retailer suitability: Great for F&B operators, boutique brands, and experiential concepts looking to benefit from Covent Garden’s cultural pull.
Covent Garden combines historic charm with strong retail performance, making it a premier destination beyond Oxford Street. With steady footfall and a luxury audience, it offers strong potential for premium businesses.
Where to find your retail success beyond Oxford Street?
Securing the ideal retail space in Fitzrovia, especially with The Langham Estate, allows you to benefit from:
Access to premium retail units in one of Central London’s most dynamic neighbourhoods.
- Expert guidance in choosing the right location for your brand.
- A growing community that combines local shoppers, professionals, and international visitors.
- Long-term business success with a trusted landlord who understands the market.
To explore premium office opportunities in the heart of Fitzrovia, discover tailored spaces available with The Langham Estate. Contact us now!