Retailer demand for property is showing signs of recovery, according to agent Cushman & Wakefield.
Demand for prime shopping centre space as a whole has stabilised both in town and out of town, but the agency’s UK Property Investment Market report warns that interest remains poor in secondary and tertiary locations, particularly in the north of England.
Cushman & Wakefield forecast that rents are likely to continue to fall in these areas and warned there is a “growing disparity between prime and secondary” locations.
The report said property investment values could bottom out by the third quarter of this year and begin to pick up in 2010.
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