Retail rents still falling, says CBRE
Published: 24 January, 2011
New research shows falls in high street, shopping centre and retail park rents
Regional high street shop occupier markets worsened in the final quarter of 2010, according to CBRE research, with prime rents falling by 0.5 per cent during the quarter, following stabilisation over the previous two quarters.
Prime shopping centres and retail warehouse rents also saw further weakness this quarter, with prime rents falling by 0.7 per cent and 0.5 per cent respectively in the fourth quarter.
Peter Damesick, EMEA chief economist for CB Richard Ellis, said: “The further weakness seen in high street occupier markets this quarter comes as little surprise, with consumer markets set to be badly affected going into 2011. Tax rises, benefit cuts, inflation fears, and ongoing unemployment worries are all likely to impact on consumers’ propensity to spend this year, which in turn will shape occupier decisions going forward.”
