Quality Over Quantity: Oxford’s Curated Retail Market Thrives

A recent report from Centre for Cities highlights Oxford as one of the UK’s best-performing high streets — a trend we’re seeing firsthand in the local retail market.

This aligns with our experience on the ground, where Vail Williams has oversight of nearly 75% of Oxford’s high street. We act for a range of landlords, including University of Oxford’s Lincoln College, St Edmund Hall, and Russell Acott Limited.

In this Oxford high street retail market update, Partner Mike Watson shares insight into Oxford’s retail trends, following a flurry of city-centre lettings completed by Vail Williams.

According to the Centre for Cities report, four key factors drive strong high street performance: higher incomes, strong retail density, visitor appeal, and a robust local economy supported by tourism. Oxford delivers on all fronts.

The city has one of the most resilient retail profiles in the UK, with a compact catchment area and high levels of visitor spending driven by tourism and leisure.

Oxford boasts 1.7 shops per 1,000 people — ahead of Cambridge (1.6) and well above London (0.8). Despite this high retail density, available space on Oxford’s high street remains limited.

While CoStar recently reported that Oxford had hit a record high in retail vacancies, our experience – and the data from Centre for Cities – paints a different picture.

In fact, retail vacancy rates in Oxford have held steady at around 9%, well below the national average. Only Cambridge (8.5%) and London (7.4%) perform better.

This data is reflected in our own experience on the ground here, where we have seen a solid level of retail enquiries throughout 2025, which has seen retail take-up levels return to pre-Covid performance, which is encouraging to see.

Retail units to let in Oxford

When it comes to retail space in Oxford, one prominent location with high footfall which is now available is 114 High St. Oxford, spanning  977 sq ft on the ground floor, with a 315 sq ft basement, quoting at £60,000 pa.

Discover more Oxford retail properties to let here.

Quality over quantity

Oxford welcomes around 8 million visitors each year, driving strong demand for retail space. With availability tight, landlords play a crucial role in curating high-quality tenants to preserve the city’s distinctive retail character.

“Landlords are investing in building upgrades with a clear focus on attracting high-calibre tenants. This reinforces Oxford’s vibrant retail identity,” adds Mike. “We expect this trend to continue, with strong demand, limited availability, and curated tenant mixes driving the market — and rents — upward.”

Oxford City Council has taken a proactive role in strengthening its high streets, implementing the 2022 City Centre Action Plan. Key initiatives include:

• Pedestrianising Market Street and St Michael’s Street
• Investing £8 million to rejuvenate the Covered Market
• Supporting independents and activating vacant shopfronts
• Integrating retail, hospitality, public space, culture, and housing to create a vibrant mixed-use core

As Councillor Susan Brown, Leader of Oxford City Council, recently commented in their own release about the Centre for Cities report: “The City Centre constantly changes to reflect national trends away from retail and toward hospitality and experience, but we are also keen to preserve traditional retail and independents alongside.”

At Vail Williams, we’re focused on high-quality assets and curated tenancy strategies – helping to preserve Oxford’s unique character and appeal to both local communities and the millions of annual visitors who flock to the city each year.

Oxford retail market outlook: a resilient year ahead

Oxford’s high street is in excellent shape: low vacancy rates, strong retail density, and a powerful combination of tourism and progressive public policy continue to drive performance.

With several recent city-centre lettings secured — and more opportunities on the horizon — the retail outlook for Oxford remains strong for the rest of 2025 – a sentiment which was reflected by Oxford City Council’s Leader recently too: “We cannot rest on our laurels, but I am really pleased to see Oxford recognised as one of the best performing city centres in the UK,” concluded Cllr Brown.

To discuss retail opportunities in Oxford or learn more about market trends, contact Mike Watson at Vail Williams.