MONEY
SELECTIVE OPPORTUNITY
Repricing across retail capital markets is set to produce some buying opportunities.
JAMES WATSON Head of Retail Capital Markets
I’d like to briefly run through what’s been happening across the core retail capital markets, where the roadblocks are and also highlight where we are seeing buying opportunities.
SHOPPING CENTRES In 2018 there were £981m of shopping centre transactions across 23 deals – which was around a third of the 10-year annual transaction average.
As we approach the half year, £340m of assets have traded indicating another year of subdued activity.
Assets in London and at commuter hubs which have scalable demographic and critical mass remain more resilient especially when assets have alternative use angles.
Of the total volume of centres traded in the past year, 56% were located in London or the South East.
There were some bright spots: we advised Crosstree in its acquisition of Edmonton Green shopping centre for £72m at a 6.3% net initial yield. This is an active asset management play as was the purchase of Nicholson’s Walk in Maidenhead for £24.8m by Aereli.
The asset has lost 70% of its value in just over a decade with the latest sale showing a capital value of £130 per sq ft, but the sale demonstrated that demand exists for repurposing opportunities.
EXECUTIVE SUMMARY
THE MARKET
RETAIL REIMAGINED
MONEY
IS THIS THE END OF THE GOLDEN AGE OF ONLINE RETAILING?
KNOWLEDGE
SHOPPING WITH A CONSCIENCE
FOOD
REGIONAL UPDATES
CONTACTS
< >
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
