Franchising, retail, business
27/01/2015
Shopping centre investment volumes return to pre-recession levels, says DTZ
UK shopping centre investment transactions in 2014 totalled £5.83bn in 70 transactions covering 101 shopping centres, according to DTZ research. These volumes have not been witnessed since pre-recession times when in 2006 volumes reached £5.62bn.
Significantly, Asian investment represented 17 per cent (£970m) of total shopping centre investment market share in 2014 compared to 0 per cent in 2013.
And at the year end activity showed no sign of letting up with 40 schemes worth £1.50bn changing hands including the sale of the Tiger Portfolio to Lone Star and Ellandi for £265m and Land Securities’ sale of The Centre, Livingston to Hines/HSBC for £224m. And the Brunswick Centre in London’s Bloomsbury was sold by LIM to Lazari Investments for £135m reflecting a net initial yield of just 3.60 per cent.
Seventeen shopping centres were under offer at the end of 2014 totalling £1.12bn including Telford shopping centre at £200m and a 50 per cent stake in the Bentall Centre, Kingston-upon-Thames which is under offer for £200m signalling that 2015 will kick off with a very strong start. There are 26 shopping centres being openly marketed totalling £742m and DTZ expects 2015 to maintain these transaction volumes.
Barry O’Donnell, DTZ’s head of shopping centre and outlet investment, said: “Demand will outstrip supply in 2015 particularly for quality assets . With the return of UK Institutions into the market and better leverage opportunities, we anticipate an active year ahead.”
Fonte:http://m.shopping-centre.co.uk/news/fullstory.php/aid/7880/Investment_back_to_its_peak.html