Extensions to existing schemes will amass more than 60% of the entire retail development pipeline by the end of the decade.
Additions to existing shopping centres will account for almost 5m sq ft over the next three years, with Intu Watford, Intu Lakeside and Westfield London all completing in 2018 and accounting for 1.8m sq ft of this space.
Overall, 21m sq ft is in the pipeline and set to be delivered by the end of 2020, with a full pipeline reaching 27.6m sq ft by the end of 2022. Developers seemingly targeting the South East and London, which accommodates one-third of the total pipeline.
Town centre locations trump out of town areas in terms of what is under construction, 53% of all space being in central areas. This is despite a reassurance of retail parks in fringe areas, with proposed schemes making up well over half of all retail developments set to come.
To send feedback e-mail james.child@eg.co.uk or tweet @jamesChildEG or @estatesgazette
