The study shows that in the fourth quarter of last year, new enquiries from retailers to lease space fell at the fastest pace in four years, with the steepest decline experienced in central London. Meanwhile, the supply of available retail space rose at its fastest pace since the first quarter of 2003, with the largest increase again in central London.
RICS said that the biggest rise in availability was for secondary location shop space and retail warehousing, which experienced the greatest increase in availability since 1999.
Sweeteners offered by landlords to retailers in return for leasing commitments also rose for the fourth consecutive quarter and by the most in two and a half years. This coincided with the number of new shopping developments starting construction increasing for the first time since the second quarter of 2002.
No comments yet