Reading offers the best prospects for UK retail investors, according to new research.
Cushman & Wakefield Healey & Baker measured 300 of the top locations against 25 factors, including economic performance, demographic profile and regional competition, along with the property market conditions in each centre.
Head of retail investment David Erwin said: “Reading’s economy is strong, it has got its act together and, after years of redevelopment, all the stores are working together. Rents are not maxed out and there is potential for growth.”
The top 10 all have a highly developed retail mix anchored by department stores and many have undergone major regeneration in the past 10 years.
Brighton’s high ranking, at number five, was the biggest surprise, because of its historic image as a tacky seaside town. But Erwin said “the strength of retailer and investor demand and the local economy suggest it is a good long-term bet”.
Top 15 retail locations
1 Reading
2 Kingston upon Thames
3 Guildford
4 Cardiff
5 Brighton
6 Cambridge
7 Oxford Street, London
8 Glasgow
9 Manchester
10 Birmingham
11 Newcastle
12 Nottingham
13 Leeds
14 Leicester
15 Covent Garden, London
References: EGi News 25/02/05
