In Town Retail Rents - South East Autumn 2007

Published: September 2007
Source/Company: Colliers International

Abstract:
• Between May 2006 and May 2007 average prime rents in the South East increased by
3.7%, less than the 4.3% achieved in 2005/06, but still above the UK average of 2.8%.
This places the region fifth in the regional ranking for 2006/07.
• Over the past 20 years, however, average prime rents in the South East have under
performed the UK average by 11%.
• During the 12 months to May 2007, prime rents increased at 51% of centres in the
region, up from 44% in 2005/06.
• Bluewater has achieved the top rent in the South East again this year with a Zone A
of £415 psf (a position it has held since opening in 1999).
• The best performing centres in the region between May 2006 and May 2007 were
Dorking and Southsea, both with prime rental growth of 30.0%. Many of the top
performing centres were towns lower down the shopping hierarchy.
• As at May 2007 the shopping centre development pipeline for the South East stood at
7.5 million sq ft. Around 1.5 million sq ft (20%) is currently under construction.

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