Retail property value up by 18%

THE value of commercial retail property has appreciated by 18% in the year to the end of June, according to Jones Lang LaSalle Irish Property Index.

Driven by strong demand from national and international retailers, the capital values and rental growth in the retail sector made up for poorer performances in the other areas of offices and industrial property.

“The office and industrial warehousing sectors are expected to deliver predominantly income performance in 2004,” according to Dr Clare Eriksson, head of research at Jones Lang LaSalle in Dublin.