€84m invested in retail property

There are definite signs of improvement in the retail property sector despite actual consumer spending levels remaining volatile.

That is according to a report by commercial property consultants CBRE, which shows that €84m was invested in retail investment properties during the first half of this year, accounting for 14% of commercial property investment activity.

Prime retail yields have contracted since the beginning of the year in response to the upsurge in investor demand. For example, prime rents on Dublin’s Grafton St have fallen to around €4,000 per square metre and are down 60% on peak values six years ago.