Research by Donaldson shows investors have doubled their exposure to shopping centres last year compared with 1997.
Net investments reached more than £1bn. Now shopping centres account for 19% of all investment in property, the study says. Shopping centres and department stores showed total returns of 13.6% last year – the top performers in the retail property sector.
The largest centres outperformed the sector overall with returns of 16.6%. These were complexes of more than 46,450 sq m (500,000 sq ft) of retail space. Donaldson forecasts average rental growth in shopping centres of 5.5% annually over the next five years.
Financial Times 31/08/99 page 8
