Train stations across the UK are becoming prime retail destinations, with Network Rail reporting its portfolio of 19 managed stations saw retail sales hit £800mn in the last year.
Network Rail manage over 600,000sq ft of retail space within major city centre locations. Over the past 12 months it has seen footfall climbing to over 700 million.
Additionally, 53 new units opened in 2023, attracting 15 new brands to the portfolio. There was also 18 pop-ups to test the retail travel market.
Hamish Kiernan, commercial director, property at Network Rail, said: “Our figures for the last year are highly encouraging and reflect how providing customers with an attractive mix of retail and F&B is a priority for Network Rail.
“We’ve welcomed new major brands, exciting new pop-up stores and refurbishments which signifies brands’ appetite for continued investment across our portfolio. As we pivot towards a more curated offering, Network Rail stations are developing into retail and leisure destinations in their own right.”
London Liverpool Street, which turned 150 this year, is Network Rail’s busiest station by passenger numbers and also its highest grossing station – accounting for over £92mn in total annual sales over the last year. Some 30 retailers make up 73,000 sq ft of retail space at London Liverpool Street, with brands including Oliver Bonas.
Network Rail added that over the past year it has taken proactive steps to continue changing the retail mix. Its retail strategy has focused on developing the offering across its destination stations by introducing new brands and experiences for customers including the Arches, a new cultural venue at London Bridge.
Furthermore, income generated from retail and F&B is key to Network Rail’s wider ambitions to reinvest into the transformation of the railway.
The travel sector is also proving important for UK retailers. In January, WH Smith credited its travel stores for driving sales. It reported sales at its UK Travel division – the company’s largest category – rose 15% in the 20 weeks to 20 January, while high street sales fell 3%.
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