European retail real estate investment turnover amounted to EUR 15.7 bn in the first six months of 2010, a 15% increase on the EUR 13.6 bn reported in H2 2009, according to the latest research from CB Richard Ellis (CBRE).

European retail real estate investment turnover amounted to EUR 15.7 bn in the first six months of 2010, a 15% increase on the EUR 13.6 bn reported in H2 2009, according to the latest research from CB Richard Ellis (CBRE).

Retail investment transactions accounted for 35% of the EUR 45.1 bn transacted in the European commercial real estate market in H1 2010, with core Western European markets such as the UK and Germany dominating activity, together accounting for almost 60% of the total.

Germany saw retail investment activity double in H1 2010 to EUR 4.1 bn, compared to the EUR 2.1 bn transacted in H2 2009. The strong upturn has been largely driven by the increase in the number of large shopping centre transactions, which included the EUR 1 bn+ Corio shopping centre portfolio deal. International investors accounted for 52% of retail investment activity in Germany in H1 2010, compared to 22% in 2009 as a whole.

Poland and the Nordic region are also beginning to see increased retail investment activity. Poland, in particular, is one of the markets seeing investor interest spread slowly outside the core segment of the market.

According to John Welham, head of European Retail Investment, CBRE, investor demand has remained predominantly focussed on the core end of the market but, he said, 'we are beginning to see some investors looking towards core-plus and value-add opportunities, therefore taking occupational and development risks in order to achieve target returns'.