Luxury shops shun White City

Luxury retailers are said to be baulking at taking space in the huge new White City development, creating a headache for developer Westfield.

So far Louis Vuitton is the only brand known to have signed up, with other top stores, preferring to stay in the West End strongholds of Sloane Street and Bond Street.

Retailers such as Debenhams, House of Fraser, Marks & Spencer and Next are already anchors of the centre's mid-market precinct.

Uncertain economic conditions are thought to be the biggest factor in deterring luxury brands from the upmarket section of the development known as The Village.

Aussie developer Westfield has shaken off those concerns though, saying it is "making excellent progress" and The Village will open alongside the rest of the centre on 30 October.

Elsewhere, retail schemes are being shelved as developers face problems over funding and increasingly uncertain retail conditions.

Property group Savills has estimated that up to 40% of currently planned shopping centre space could be abandoned or delayed over the next five years.