UK landlords are struggling to offload billions of pounds’ worth of shopping centres and retail parks, as the crisis in bricks-and-mortar retail ripples into the property sector.
At least £2.5bn of retail properties are currently being marketed, according to FT data based on information from agents, while some property companies privately place the total available to buy as high as £5bn.
“Everything is for sale. Nobody wants to own this stuff,” said one agent in the sector. “The bid-offer spread between holders’ expectations and the prices that buyers are willing to pay is just a chasm.”
