There are currently several retail units available for rent around Covent Garden Piazza and adjacent streets, offering a mixture of sizes, types, and lease terms. Some examples:
4 Langley Court, WC2E – A retail unit (ground + basement) of approximately 658 sq ft, recently refurbished, exposed brick features. Asking rent: £110,000 per annum (~£167 per sq ft).
14‑16 Betterton Street, WC2H 9BU – Retail unit of ~952 sq ft currently marketed. Full lease terms are available via the agent.
A range of shops in Covent Garden are listed on portals like Savills and CBRE with varying sizes (from small units up to ~2,000 sq ft) and ‘rent on application’ terms.
| Aspect | Typical Figures / Range | What Influences Price |
|---|---|---|
| Rent per sq ft | ~ £150‑£200+ psf (premium units near piazza) for prime frontage. Less for secondary or internal units. Example: £167 psf at Langley Court. | Footfall / frontage / visibility / proximity to the Piazza and major tourist flows / building condition |
| Lease Terms | Long leases preferred (10‑20 years+ in many cases), often with upward rent reviews. | Landlord risk, business type, fit‑out costs, length of commitment |
| Additional Costs | Service charges, business rates, insurance, maintenance, likely fit‑out costs. | Historic buildings, communal areas, building management standards in the area |
Frontage & Footfall – Units with direct visibility from Covent Garden Piazza or major streets command a premium.
Usage / Use Class – Confirm permitted use under Use Class E (shops / restaurants / galleries etc.) or if there are restrictions.
Fit‑Out & Refurbs – Many units are stripped or need work; ask about condition and landlord obligations.
Lease Flexibility – Break clauses, rent review frequency, possibility for expansion, signage permissions.
Costs Beyond Rent – Business rates, service charges, maintenance, utilities. Factor in the full cost of occupation, not just rent.
For brands, boutiques, eateries, or retailers seeking prestige, visibility, and high foot traffic, Covent Garden Piazza remains one of the top retail locations in London. It’s costly, but exposure and demand are high—so many businesses see strong return on footfall and branding alone.
However, margins can be tight given high rents and overheads. Only viable if business model can support premium cost base (e.g. high turnover per sq ft, or high margin product).
Fraser Bond offers tailored services when you’re considering a retail lease in Covent Garden:
Site sourcing & short‑listing – We can bring you units that match size, frontage, budget.
Lease negotiation – Ensuring favourable lease terms, break clauses, and permitted use.
Fit‑out oversight – Helping manage fit‑out budgets and local authority requirements.
Business cost modelling – We build full occupancy cost models (rent, rates, services) so you can forecast profit margin.
If you’d like Fraser Bond to identify current retail units in Piazza, organise viewings, or build you a cost‑vs‑return scenario, just reach out via FraserBond.com.
