In Town Retail Rents - Wales Autumn 2007

Published: September 2007
Source/Company: Colliers International

Abstract:
Executive Summary
• Between May 2006 and May 2007, prime rents in Wales increased, on average, by 3.8%,
more than the 2.0% achieved during 2005/06 and well above the UK average of 2.8%.
This performance places the region joint second in the regional ranking.
• Over the past 20 years, however, average prime rents in Wales have under performed
the UK average by 9%.
• During the 12 months to May 2007, prime rents increased at 32% of centres in the
region, up from 29% in 2005/06.
• Cardiff remains the highest rented centre in Wales with a Zone A of £300 psf. The
capital city has held this position since our records began in 1987.
• The best performing centre in the region between May 2006 and May 2007 was
Caerphilly, which achieved a prime rental growth of 18.2%. Many of the top performing
centres were towns lower down the shopping hierarchy.
• As at May 2007 the shopping centre development pipeline for Wales stood at
2.6 million sq ft. Around 700,000 sq ft (28%) is currently under construction.

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