Retail station sales outperform the high street for the 10th quarter in a row12 February 2013
The latest station retail results show a 2.54% growth in like-for-like sales between Q3 (1 October-31 December) 2011 and Q3 2012. Over the same period, the British Retail Consortium reported sales on the high street grew by just 0.2%.
- Waterloo station concourse and balcony
Figures were compiled from the results of retailers operating over 500,000 sq ft of retail space totalling over 500 units at 16 of Britain’s biggest and busiest stations which we own and operate. In total, these stations benefit from a combined annual footfall of over a billion.
With growth on the high street remaining flat, our station retail sales continue grow. This strong performance is impressive taking into account the challenging economic climate we face, and is thanks to investment in rail and growth in passenger numbers. The guaranteed high levels of footfall in our stations provide our retail partners with some of the most lucrative trading environments available in the marketplace today.
Top performing stations include London Bridge station (+23.27%), followed by Victoria (+7.32%) and Euston (+5.82%), compared to the same period last year.
King's Cross station
Not included in the like-for-like statistics is King’s Cross, which has seen a huge increase in retail sales following the opening of the new western concourse in March 2012. During the third quarter, station retailers generated over £10m in sales, which represents a 137% increase on the same period the previous year when the number of retail units in the old southern concourse was significantly lower.
“These are great results for our retailers, and we are delighted with the recent survey findings from Passenger Focus which show passenger satisfaction has soared particularly at King’s Cross and Waterloo, where we have made significant investment in providing a better environment and improved retail facilities for passengers.”
David Biggs, director of property, Network Rail
- All profit from our retail activity is re-invested in the railway, helping deliver a better value railway for everyone
- Network Rail is one of the largest land and property owners in the country
- We have over 500,000 sq ft of high footfall retail space at our 16 managed stations, many of which are amongst the largest stations in Britain
- We are the country’s largest provider of commercial property to small and medium sized businesses with a diverse portfolio of over 7,400 properties nationwide - the business space estate has occupancy rates of 95%
- We work in partnership to promote regeneration around our stations and improve the journey experience by leveraging investment from the public and private sectors (development projects include multi-million pound commercial schemes above our stations at London Bridge (The Shard) and Solum Regeneration, a multi-site joint venture with Kier Property)