Retail property investment in Europe reached €22.7 bn in the first half of 2014, up 51% from the same period last year, according to Real Capital Analytics.
Retail property investment in Europe reached €22.7 bn in the first half of 2014, up 51% from the same period last year, according to Real Capital Analytics.
The rise was driven by a strong Q2, which saw investment nearly double to €13.6 bn from €6.8 bn in the same period last year.
The Q2 increase was powered by some large deals, including Land Securities’ €807 mln purchase of 30% of the Bluewater mall in the UK and the €700 mln purchase of 75% of the Beaugrenelle centre in Paris by an Apsys-led consortium.
‘Shoppers are starting to spend more after a long bout of belt-tightening. This has made property investors more confident that we may see rental growth, which in turn supports values,' said RCA’s MD, Simon Mallinson.
‘Dominant shopping centres in Germany and the UK regions outside London, which traded resiliently throughout the recession, are still the top pick of investors. There is intense competition for assets when they come to the market and this is reflected in pricing,’ he added.
