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Boom times at the shops.

Shopping centre values have broken the records set at the end of the late 80s property boom, it was claimed today.

Chartered surveyors and commercial property agents Donaldsons estimate the total value of Britain's centres is now more than pounds 21billion.

This is about two-thirds of the current market capitalisation of all the property companies quoted on the London Stock Exchange.

Shopping centre rentals grew fastest last year in Greater London with a 10.3 per cent increase - the next-fastest growth, 8.1 per cent, was in East Anglia, the East Midlands and the North West.

The lowest rate of growth, at just 3.9 per cent, was found in Scotland.

This was narrowly behind Wales, the South West, with the West Midlands on just 4.1 per cent.

And the forecast for the region and nationally is that "rental growth is set to slow down".

Shopping centre capital values across the board rose by 10.2 per cent last year, meaning that total returns - income plus capital - were 17.3 per cent.
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Publication:The Birmingham Post (England)
Date:Sep 1, 1998
Words:173
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