Up to 50% of high street and shopping centre leases are due to expire by 2015, according to Jones Lang LaSalle.
Speaking at the agent’s Property Predictions 2012, head of retail Guy Grainger, said that leases at shopping centres and high street shops are coming to the end of three cycles, leading to a spike in lease expiries.
This includes 25-year leases signed in the 1980s, 10-year leases favoured in the 1990s and the sub-10-year leases of the past decade.
He said that, according the firm’s research, up to 25% of high street and shopping centre leases are due to expire by 2013, and 50% by 2015.
This compares with around 5% and 15% for retail parks by 2013 and 2015 respectively.
bridget.oconnell@estatesgazette.com
