UK retail rents slip in first quarter of 2019

Retail rent prices on prime UK high streets fell one percent in the first quarter of 2019, an acceleration of the -0.4 percent falls reported in the third and fourth quarter of last year, according to CBRE’s most recent prime rents and yields monitor.

Shopping centres and retail warehouse prime rents also fell -1.3 percent and -1.0 percent over the quarter, respectively. Overall, all shops prime yields increased 12bps in the first quarter of the year.

"Falls in the retail sector pulled down the all property results in Q1 2019, despite the relative strength of office and industrial performance. Our prime rent and yield data continues to show prime retail coming under pressure, both in pricing and rental values.” said Robin Honeyman, research analyst at CBRE UK, in a statement.