Hertsmere commissioned a full retail study of the borough in April 2026. Its
Radlett findings are worth reading if you trade there.
It is the most expensive high street in the borough. Average retail rents run
at £38.92 per square foot, generally £30 to £45, and above £66
for smaller units on the prime Watling Street frontage. Borehamwood averages
£32.83 and Bushey £20.05.
It is also the most independent. Multiple retailers hold just 11.7% of the
103 units, the lowest share of any centre in the study. The report describes "a
high proportion of independent shops such as bakers, butchers, and
delicatessens". There is no large supermarket at all, only a Tesco Express and a
Budgens.
And empty units have doubled. Vacancy has gone from 5.3% of units in 2012 to
10.7% in 2025, eleven units. That is still below the UK average of 14.0%,
though vacant floorspace at 13.3% now sits close to the national 14.3%.
There is nowhere to expand into either. Radlett's entire designated
employment site is Beaumont Gate, about 0.4 hectares beside the station. The
borough's economic study concludes that high rental values would support more
employment space there, but that "the absence of undeveloped land and the low
level of vacancy on this site will likely prevent any significant redevelopment".
Bushey has 12.5 hectares of employment land. Borehamwood has 38.2.
Put those four together and the position for an independent on Watling Street is
specific: the highest rent in the borough, no more space to take, no growth in
the local population, and more empty units next door than there were. Every
pound of that rent is buying a shopfront that only reaches people already in the
village. Reaching anyone else is a separate job, and a much cheaper one.