Average costs per square meter for building retail spaces in UK 2024

There, the average construction cost of a large shopping center in London was around 2,800 British pounds in 2024. The most expensive retail spaces in the United Kingdom (UK) were found in London. However, the retail construction costs in Manchester were not far behind. Our report on construction costs in the UK provides deeper insight into the expenses that contractors need to face during their projects in London and the rest of the country.

Largest shopping centers in the UK

In 2023, Middlebrook Retail & Leisure Park and Castlepoint Shopping Centre were the largest retail parks in the UK. These facilities had a gross internal area of 675,000 square feet. In comparison, the size of Westfield shopping malls in London and Stratford City were less than half that size.

The hottest streets

The Bond and Oxford Streets, both located in London were among the high streets in the UK with the lowest retail yields, which were under three percent as of 2024. The prime yields of high street retail in other European countries were higher than in the UK.