East Mids fights "difficult" investment conditions
Investors have been battling for rare prime retail assets in the East Midlands over the second quarter of the year. That's according to DTZ's 'Retail Investment' market research.
The property agent's report said the second three months of 2011 had meant "difficult trading conditions" for the East Midlands' retail property sector.
Retailers narrowed their focus to fewer locations where footfall remains strong, said the report, while administrations and downsizing continued to increase.
However, DTZ said prime yields remained strong throughout the period.
Philip Glenn, head of DTZ's Nottingham office, said: "The East Midlands picture mirrors the national one with difficult trading conditions across the sector. From an investors perspective prime stock is scarce.
"The East Midlands has a strong retail offer with relatively recent shopping centre developments in both Leicester and Derby. Nottingham retains its position as one of the strongest retail destinations nationally and the recent announcement of plans to extend the Victoria Centre further is a vote of confidence for the city."
