Located between Oxford Street and Piccadilly, in the heart of Mayfair, New Bond Street has once again cemented its status as the world’s most expensive shopping street.
According to Cushman & Wakefield’s Main Streets Across the World report, the London thoroughfare has overtaken all global peers, underpinned by relentless demand, virtually non-existent supply and its unrivalled concentration of luxury retail. Over the past year alone, prime rents on New Bond Street have risen by 22%, placing it firmly at the centre of attention for both international brands and long-term investors.
The surge in values has been reinforced by a series of high-profile transactions. At the beginning of 2025, Prada acquired the building housing Miu Miu on the street for £250 million, while Richemont completed the purchase of another asset for around £82 million in 2024. More broadly, rents on New Bond Street now reach €20,482 per sqm per year, surpassing those of Fifth Avenue in New York and Via Montenapoleone in Milan. Even its most exclusive stretch, between Clifford Street and Burlington Gardens, measures less than 50 metres in length, yet hosts brands such as Givenchy, Chopard and Van Cleef & Arpels.
This momentum has also attracted major investors. In 2024, Lazari Investments acquired the iconic Fenwick building for around £430 million, following the department store’s departure after more than 130 years on the street. That same year, Blackstone invested £230 million in another New Bond Street property, drawn by the resilience of prime luxury retail and further rental upside. Alongside flagship stores from Chanel, Dior, Hermès, Louis Vuitton and Burberry, the street is also home to Sotheby’s, Bonhams and a cluster of leading art galleries, reinforcing its role as one of the world’s foremost luxury and cultural destinations.
