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Retail Growth Comes to a Halt

LONDON-Rental growth in the retail sector has come to a virtual halt, with an average growth rate over the six months to March of just 1.1%, according to a new survey from Jones Lang LaSalle.

By Graham Parker | Updated on July 13, 2001

LONDON-Rental growth in the retail sector has come to a virtual standstill. Across the UK as a whole, achieved retail rents have grown by only 1.1% in the six months to 31 March 2001 against a growth rate of 30% over the past year.

The top Zone A rent achieved remains £575 ($810) per sf in Brompton Road, Central London which was set back in summer 1999. Outside London, the highest top achieved Zone A rent is in Birmingham at £315 ($444) per sf. Other locations to hit the £300 ($423)per sf mark were Newcastle-upon-Tyne and Manchester with rents of £310 ($437) per sf.

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