33 Bluewaters to be built in four years

UK property developers are set to build 53 million sq ft (4.9 million sq m) shopping centres over the next four years - equivalent to 33 Bluewaters, according to newspaper reports today.

The revelation has prompted fears that the sector will repeat the mistakes made before the property crash of the 1990s.

Property consultancy Colliers CRC has cautioned restraint as worsening conditions on the high street could mean rents falling nationwide over the next year.

Colliers fears that new shopping centres will be left unfinished as developers decide to quit late on.