Dublin shopping unit space is Europe’s second most expensive

DUBLIN is the second most expensive city in Europe behind London in which to rent prime shopping centre unit space, according to a new report.

The latest set of European market indicators for the commercial property sector; from property consultancy, Knight Frank; show that although shopping centre rents in Dublin have dropped — and are currently around €3,750 per square metre per year — they are still at the higher end of the scale. Only London is higher — with its annual shopping centre rents up to €5,556 per square metre — while Edinburgh is third most expensive, at €2,160 per square metre. The likes of Munich, Moscow and Brussels also clock in at well over €1,000 per square metre.

Knight Frank’s survey found that while commercial rents continue to grow across Europe, there has been little movements in yields in recent months. This, the company suggests, has dampened investor interest in shopping centre sites around the continent.