Colliers CRE

The Colliers CRE Group is one of the UK’s top ten real estate advisory organizations, employing over 700 people at 13 main offices, including 10 in the UK. The company is part of Colliers International, now the world’s third largest commercial real estate firm. Its mission is to provide clients with advice and service of the highest quality through the integrated application of specialist expertise, in order to develop long-term relationships.
 
Providing advice to the public sector has long been a major focus of Colliers CRE, and the company’s success in being appointed to the Buying Solutions Estates Professional Services Framework in 2008 has provided further momentum. It is now one of only eight accredited suppliers that public sector organizations can appoint without going through the lengthy OJEU process.
 
Town centres and the retail sector have traditionally been major strengths of the company and this is reflected in the publication of its annual Midsummer Retail Report and accompanying In Town Prime Retail Rents wallchart, both of which have become industry standards. It also regularly publishes research papers on the retail sector and the real estate market which generate significant media coverage.
 
Drawing on this wealth of technical expertise, planning experience and market knowledge, Colliers CRE has established a long and successful track record of delivering robust and tailored town centre/retail studies (and advice) to local authority clients throughout the UK and Ireland.
 

For further information on Colliers CRE and its range of real estate advisory services can be found at www.collierscre.com 

 

Disclaimer

The Colliers CRE Retail Rents data is based upon our opinion of the open market Zone A rent in 418 shopping locations in Great Britain. The rental values relate to a hypothetical shop unit of optimum size and configuration in the prime pitch. The figures have been arrived at by adopting zone sizes standard for the location and are expressed as £ per square foot per annum. In the case of shopping centre locations where the rent payable is the greater of a base rent (a percentage of Full Rental Value (typically 80%) or a percentage of turnover, the rental data is Full Rental Value (i.e. the grossed up base rent). In assessing our opinion of the open market Zone A rent we only acknowledge the presence of shopping centres once completed and open to the public.

Our opinion of the Zone A rents reflects the 'Net Effective Rent'. This is the rent that would be agreed between the parties for a letting of the premises on the relevant terms and conditions, but without incentives forming part of the transaction. Accordingly, we have adopted figures analysed net of rent free periods or capital contributions. We have, however, assumed that the grant of a rent free period of three months or less would not be considered to be an ‘incentive’. In the current market the impact in the majority of cases is that the net effective Zone A rate adopted will be at a lower level than the ‘headline rent’.

Neither the whole nor any part of this Rents data, or any reference thereto, may be included in any published document, circular or statement or disclosed in any way without our previous written consent to the form and context in which it may appear. This Rents data gives information which may be helpful in identifying trends in the retail property market. However, no warranty is given as to the accuracy of, and no liability is accepted in relation to, the figures contained in it and they must not be relied upon for investment or any other purposes. This data does not constitute and must not be treated as investment, rent review, lease renewal or valuation advice.   

© Colliers CRE - June 2009

Colliers CRE is the principal business of Colliers CRE plc, and an independent affiliate of the worldwide Colliers International network.

Colliers CRE plc is quoted on the Alternative Investment Market of the London Stock Exchange.

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Zone A rents are defined in Milestone as follows:

"The open market rent of a hypothetical shop unit of optimum size and configuration in the prime pitch of a town centre. Zone sizes standard for the location have been adopted, and rent is expressed as £ per sq foot per annum. Source: Colliers International. 

 

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