Retail rents to dive by a fifth

Retail rents across the UK’s high streets and shopping centres are set to drop by almost a fifth between now and the end of next 2010, quashing hopes of a revival of the troubled retail property sector, according to a report by Colliers CRE. Rents are forecast to drop by about 11 per cent by the end of the year as struggling retailers negotiate cheaper deals with landlords who are desperate to avoid empty property rates. Colliers CRE has forecast that retail rents will only return to growth in 2012.