development in the UK has been found to be the strongest of all European countries last year. Jones Lang LaSalle has highlighted the significant expansion that the sector has experienced over the past 12 months, with investment volumes in the region up 68 per cent year-on-year.
The total spent in the sector rose to EUR 20.6 billion in 2010, having ended the previous year at EUR 12.3 billion.
Indeed, UK retail property development made up 31 per cent of all activity across European nations, with Germany's commercial property market the second-most active, contributing 23 per cent of the total.
Adrian Peachey, head of UK retail investment at Jones Lang LaSalle, said that the high levels of transactions were encouraging, adding that the impressive performance of the UK is an indication that confidence is improving.
"Prime assets continued to be the most coveted, with demand for the best stock typically outstripping supply," he observed. "The key investment trend in the UK was the 'flight to quality' for all retail assets which forced a strong rebound in prices at this end of the market."
- Thursday 20 January 2011