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Market Commentary

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Weekly Retail & Leisure News - 27​​​​​​​​​​​​​​​ July​​​​​, 2015

UK remains Europe’s largest retail investment market

The UK remains Europe’s largest retail investment market with H1 attracting over €9 billion of investment volumes. Growth in non-core markets helped to see total H1 European retail real estate market transaction volumes reach €26 billion, up 28% on 2014. In this video, Jeremey Eddy, JLL European Retail Capital Markets, comments that it’s not just capital that investors are demanding; “investors are increasingly looking for a way to enter the market. They are doing this through entity deals and M&A, but many more are seeking partners in equity and expertise joint ventures.”

Looking to the second half of the year, Eddy expects the current trends to continue, but to also see more trophy deals on the high street. “Consumers love the high street again. These locations are becoming more and more dynamic and this is helping to make investment in the right spots, backed by the right retailers, a secure and defensible long term investment. There are however only a handful of locations like these in Europe. Pontegadea, the property company of Inditex has struck deals like this recently with Primark on Oxford Street and also on Barcelona’s Gran Via and we can expect more deals like this well into 2016.”

The attractiveness of the UK market is being driven partly by the strengthening macro sales picture. The ONS confirmed the BRC’s positive figures released last week, reporting June sales up 4% year-on-year. In addition, a number of retailers from different sectors, including John Lewis, Zara, DFS,  B&Q, Mothercare and Crew Clothing reported positively this week. And as UK consumer confidence has overtaken the global average for the first time in more than nine years in the past week, the outlook for UK retail sales should remain positive.

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