Shop rents down 1.5%

Shop rents fell 1.5% in the last year, June and are expected to drop more than four per cent this year, according to the Colliers International midsummer report.

The 1.5% dip this year compares with an 11.5% slump in the same period last year, reports Retail Week.

Performance varied across regions, with rents in Guildford rising 16.7 per cent and those in Dunstable slumping 45 per cent. The report claims the proportion of empty shops to increase from 10.7 per cent to 11.4 per cent this year.