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EMEA Retail Map - Rents & Yields | H1 2021

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With COVID-19 restrictions easing across Europe, retailers have begun to see some signs of recovery, with many consumer and mobility indicators moving in the right direction. Despite a lack of market activity, transparency, and a general market shift to turnover rents, prime assets and luxury high-street locations have seen pricing conditions remain relatively robust. Our 12-month forecast of prime rents and yields shows that 59% of luxury high street locations predict stable conditions over the next 12 months. Concurrently, market conditions for mainstream high-street locations and traditional shopping centres remain challenged. While more markets have reported stable yield conditions as of end Q2 2021, the 12-month forecast for mainstream high-streets and TSCs is quite evenly split between those expecting yields to increase (40/47) or remain stable (49/53). When it comes to rents, the expectation is primarily on the downside, with 58% of mainstream high-streets and 65% of TSCs expecting rents to fall in the next 12 months. The overall impact points to a continued softening of values, particularly for TSCs, over the next 12 months.  

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EMEA Retail Map - Rents & Yields | H1 2021

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Damian Harrington

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Damian Harrington is a Director and Head of Research for both Global Capital Markets and EMEA at Colliers. He has over 20 years of experience in the real estate industry living and working from various locations across EMEA including London, Dubai, Prague, Helsinki and Amsterdam. Damian is responsible for producing research for internal and external clients. His expertise helps to provide clients with global capital market trends and analysis, and connects them with strategic and actionable insights, such as the changing nature of global capital and the impact on global capital flows. Damian has produced numerous research papers and generated analysis of markets across all asset types - from residential to offices, retail to logistics and hotels to niche sectors such as life sciences, air cargo and data centres. Damian is a member of the EMEA location strategy team and a key member of Colliers ESG focus group.  He speaks regularly at internal global conferences, external industry events hosted by GRI, ULI and other key industry bodies, plus key annual events such as MIPIM and EXPO REAL.

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