What: British Land's Broadgate expansion combines premium retail, dining, and office space near Liverpool Street station, targeting a projected 33 million annual visitors through a strategic mixed-use approach.

Why it is important: The project validates the growing trend of retail destination development around major transport hubs, with its projected 33 million visitors highlighting the potential for combining commuter traffic with leisure shopping.

British Land's transformation of Broadgate represents a significant evolution in London's retail landscape. The development, which opened its first phase in 2020, has successfully established itself as a mixed-use, seven-day destination, attracting 29 million visitors annually. The second phase, scheduled to open later this year, will add 40,000 sq ft of retail and hospitality space, featuring premium brands like Mango, Hobbs, Whistles, and Ralph Lauren.

The development's success is evidenced by a 26% annual sales increase across phase one, with particularly strong performance in health, beauty, jewellery, and fashion sectors. British Land's strategic focus on diverse customer segments is reflected in their tenant mix, with plans to enhance women's fashion offerings to balance the current male-oriented retail mix. The location's connection to Liverpool Street station, combined with the Elizabeth Line, has boosted visitor numbers, while office worker attendance exceeds London's average at 3.8 days per week. Weekend footfall has grown by 15%, with sales increasing by 36%, demonstrating the development's success in attracting both commuters and leisure shoppers.

IADS Notes: British Land's expansion of Broadgate aligns with several successful retail transformations in London during 2024-2025. The development's integration with Liverpool Street station mirrors successful transport hub strategies, as evidenced by Oxford Street's revival in December 2024, where vacancy rates plummeted to 2.2% following the Elizabeth Line's impact. The mixed-use approach parallels M&S's GBP 150 million Marble Arch development and Landsec's GBP 490 million Liverpool One acquisition, both demonstrating strong confidence in prime London retail locations. British Land's focus on diverse customer segments reflects broader industry trends, as seen in John Lewis's GBP 800 million investment programme in October 2024, which similarly emphasized enhanced customer experiences across multiple demographics. The strategic tenant mix at Broadgate, combining premium and high-street brands, follows the successful model implemented by Frasers Group across their retail portfolio, proving the effectiveness of a balanced retail approach in prime locations.

How British Land plans to create a ‘fantastic location’ for central London retail