Investment volumes still subdued

Published:  04 July, 2017

Savills calculates £579m of malls traded in past quarter

In the second quarter of the year investment into shopping centres stood at £578.8m transacted over 13 deals according to Savills. This is subdued compared to Q2 2016 in which investment into the sector stood at £737.2m over 12 deals.

The firm notes transaction volumes for the first half of the year stand at £946.5m compared to £1.508 billion in H1 2016. This year has seen volumes bolstered by the sales of a small number of large lots, particularly the sale of the Stratford Centre for £141.5m, The Exchange in Ilford for £78m and Southside in Wandsworth for £150m.

Over £1bn of schemes have been brought to market in Q2 2017, dominated by the Bluewater stakes and the Liberty Centre in Romford. According to Savills there are currently circa £700m of schemes under offer.

Mark Garmon-Jones, head of shopping centre investment at Savills, said: “Despite the subdued levels of transactions in the second quarter we have started to see momentum building in recent weeks. The amount of stock already traded and also under offer leads us to believe that investment into shopping centres in 2017 will be in excess of £3.5bn, above the £3bn seen last year.”

© 55 North Ltd 2016. All rights reserved.
Registered in Scotland No. SC204747.
Privacy Policy : Terms & Conditions
55 North