Russia and the UK command the highest prime shopping centre rents in Europe at EUR 2,000 per m[sup]2[/sup] per annum, according to new research released on Wednesday at Mapic by Jones Lang LaSalle.
Russia and the UK command the highest prime shopping centre rents in Europe at EUR 2,000 per m2 per annum, according to new research released on Wednesday at Mapic by Jones Lang LaSalle.
JLL presented a map, produced in co-operation with many of the largest shopping centre owners and managers in Europe, providing an overview of prime shopping centre rental levels together with short term growth prospects for 17 European countries.
Nicola Birkett, associate director in Jones Lang LaSalle's European Retail Capital Markets team, said: 'Due to the limited availability of prime retail space in many shopping centres across Europe, the outlook over the next six months for prime rents in most European markets is stable despite the inevitable slowing of demand from occupiers. However, downward pressure remains on rents in a handful of markets including Hungary, Romania and Spain.'
Birkett added: 'Rental comparison between prime shopping centres, and indeed between countries, is something investors will take into account when assessing investment opportunities. In general, the dynamic face of retailing and continuing demand from new retailers for prime shopping centres, together with active management opportunities to maximise income growth should continue to go some way in shielding the best schemes from the challenging occupier conditions.'
