Published: 16th Sep 2019

Local authorities are set to invest £1bn in shopping centres by 2020 to help ailing town centres, according to a new report. The report by retail property trade body Revo and property and regeneration advisor Lambert Smith Hampton reveals that local authorities have invested over £770m in shopping centres since 2016, amid claims that could just be the ‘tip of the iceberg’. It also shows that councils have accounted for 12% of all shopping centre investment by value since 2016, peaking at 16.7% in 2018. According to the report, local authorities have invested billions in all commercial property over the last few years to mainly help generate income. However, for many local authorities, the acquisition of shopping centres within their boroughs also been driven by the need to take more of a lead in the regeneration of failing assets and town centres, against a backdrop of falling rents and rising … (To read the full article, subscribe below)