Retail rents rise in Yorkshire for first time in 10 years

Retail rents rise in Yorkshire for first time in 10 years

Todays other news
There are significant variations in price growth across property types...
Upscale properties are particularly in demand, says a UAE broker...
The analysis has been done by online sales agency Yopa...
The research is by analytics consultancy TwentyEA...
Time taken to make planning decisions has increased by 162...


York recorded the largest increase in rents of any retail location outside of London between April 2015 and April 2016 as figures across Yorkshire increased for the first time in 10 years, according to Colliers International’s annual Midsummer Retail Report 2016.

The city of York saw rents increase by 19% year-on-year, boosting the Yorkshire and Humber’s average rental growth by 1.9% and resulting in real rental growth for the region for the first time since 2006 of 0.6%.

The report found that of the 21 centres analysed across the region, five recorded increasing rents, three saw a decline and 13 remained stable.

The region’s largest cities of Leeds and Sheffield both recorded increases in ‘Zone A’ rents with 4% and 6%, respectively.

Tom Cullen, retail director at Colliers, commented: “Although only a nominal increase of 0.6%, it is encouraging to see real rental growth for retail locations in the Yorkshire & Humber region for the first time since 2006.

“Leeds and Sheffield continue to perform well as retail destinations and this is attracting additional investment in the form of a host of new development in the pipeline for both cities over the next 12 months.

“York’s significant rental growth is due to the fact that the city has a very tight historical centre with a strong affluent pool of young professionals, student population and thriving tourist scene, which all contribute to driving a strong demand for retail and lack of supply.”

Meanwhile, Manchester was named as the only centre to achieve substantial rental growth in the North West of England in the 12 months to April 2016, while Liverpool enjoyed 99% occupation in its prime locations.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Trafford is now rapidly emerging as one of 2025’s top...
Eight more councils have signed up to a scheme...
A legal expert has shared advice on how to deal...
A new station complex has triggered a complete regeneration of...
Spain’s draconian new tax is already spooking British investors...
The current controls come to an end on March 31...
140,000 homes listed on sale in January - the highest...
Recommended for you
Latest Features
There are significant variations in price growth across property types...
Upscale properties are particularly in demand, says a UAE broker...
The analysis has been done by online sales agency Yopa...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here