UK shopping centres delivered the second-best returns for the sector in Europe last year, according to research launched by CBRE at MAPIC.
Irish shopping centres delivered the best total returns in 2003, at 24.1%, driven by a 17% rise in capital values. Returns in the UK stood at 15.5%, followed by Norway at 13%.
With an average return of 11%, retail centres were the best-performing sector across Europe, according to the CBRE/IPD European shopping centre digest.
In the UK, shopping centres produced the same returns as retail property as a whole, but outperformed offices (3.2%) and industrial (10.9%).
The digest pulls together investment performance data from over 1,000 shopping centres in 11 countries, with a combined total capital value of €52bn at the end of 2003.
References: EGi News 19/11/04
