The Impact Of New Shopping Centres On Prime Rents

Published: October 2006
Source/Company: Colliers CRE

Abstract:
The UK shopping centre development pipeline is now at its highest level since the late 1980s. There is a total of around 54 million sq ft scheduled for completion by 2012. This total includes schemes under construction, with planning consent and proposed. This is close to one third of the existing shopping centre floorspace stock. The cracks beginning to appear in the occupier market may begin to affect the timing and likely completion of some schemes, but our data suggests that, so far, there has been little slippage. Indeed, more space is now anticipated to open than predicted 12 months ago, whilst in the peak year of 2009, almost 12 million sq ft is projected to open.