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Prime commercial property rents continue to grow

Rents in the UK prime commercial property sector rose by an average of 0.4% in the fourth quarter of 2016, the latest figures show.

There was a strong performance across the industrial sector, where rents rose by an average of 1.1%, helping to push overall rents up in Q4, according to CBRE's Prime Rents and Yields Monitor.

London and North West industrial prime rents outperformed all other locations, increasing by 2.8% and 2.7% respectively.

On annual basis, the industrial sector recorded the largest increase in prime rents over the whole of 2016 – up 6.5%.

This was followed by high street shops, up by an average of 5.4%, supported in part by 0.3% growth in high street retail rental prices in Q4.

Shops in Scotland saw rents grow by 2.9% over the quarter compared to the 0.5% increase across the rest of UK, excluding South East and Eastern England.

 The Office sector experienced no increase in prime rents.

Overall, prime yields remained relatively stable over Q4 2016, falling marginally to 5.4%, with yields for prime offices and retail warehouses were unchanged over the three months.

Prime shopping centres and industrials also saw little yield fluctuation, ticking up 2 basis points and down -1 basis point respectively. 

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