The timing of the June quarter day could not have been more significant, being the day on which the result of the EU referendum was announced.
The vote to leave has of course created significant uncertainty and volatility in the markets. With the situation continuing to evolve on a daily basis, it is still too early to know the extent to which this will affect property values going forward.
Some key features of Q2 2016 include:
- £703 million of shopping centre transactions, in total down 20% from the first half of 2015.
- Key transaction being intu’s purchase of the 50% stake in Merry Hill for £410 million.
- 2016 volumes may well be under pressure to match the £3.9 billion transacted in 2015.
- Retail Warehousing investment volumes down by 5.25% from the first half of 2015.
- Consumer Confidence and Retail Confidence remains level.
- Retailer administrations included BHS, My Local, Store Twenty One and Austin Reed