Network Rail retail sales hit £800m as stations become prime retail destinations
Network Rail announced that its retail sales surpassed £800m over the past 12 months across its portfolio of 19 managed stations in Great Britain.
The company manages over 600,000 sq ft of prime retail space in major city centres, attracting more than 700 million visits per year. This period saw the introduction of 53 new units, welcoming 15 new brands and 18 pop-ups designed to test the travel retail market.
London Liverpool Street, celebrating its 150th anniversary, emerged as Network Rail’s highest-grossing station, generating over £92m in total annual sales. The station hosts 30 retailers across 73,000 sq ft of retail space, with notable brands like Oliver Bonas, Leon, and Coco di Mama.
Over the last year, Network Rail has actively evolved its retail strategy, enhancing the mix at destination stations by introducing new brands and experiences. Highlights include the Arches at London Bridge, a new cultural venue that has introduced Elvis-themed entertainment to the capital.
Another significant development is at London Waterloo, where the opening of The Victory pub has increased sales per sq ft to £2,507. This venue offers a comprehensive menu from breakfast to Sunday roasts and a selection of craft beers, exemplifying the growing trend of hospitality brands investing in major transport hubs to take advantage of increasing footfall.
These developments underscore Network Rail’s commitment to enhancing customer experience and diversifying the retail offerings at its stations. This sustained growth in sales demonstrates that these investments are solidifying the stations’ roles as hubs for eating, shopping, and travel. The revenue from retail and food & beverage sales is crucial for Network Rail’s broader goals of reinvesting in the transformation of the railway network.
Hamish Kiernan, Commercial Director of Property at Network Rail, stated, “Our figures for the last year are highly encouraging and reflect our commitment to providing customers with an attractive mix of retail and F&B. The addition of new major brands and exciting new pop-up stores, along with refurbishments, signifies brands’ continued investment across our portfolio. As we pivot towards a more curated offering, Network Rail stations are evolving into retail and leisure destinations in their own right.”
